Broad selling hit mainland equities, though power and some financial shares outperformed as turnover across Shanghai and Shenzhen climbed to CNY 2.65 trillion.
China's stock market fell sharply on July 17, with losses spreading across major benchmarks and much of the broader market. The Shanghai Composite dropped 3.05% to below 3,800, the Shenzhen Component lost 5.4%, and the ChiNext Index, which tracks growth-oriented companies, fell 7.15%. The STAR 50 Index also declined more than 7%, underscoring the pressure on technology and smaller-cap shares. Trading activity remained heavy despite the retreat, with turnover across the Shanghai and Shenzhen exchanges reaching CNY 2.65 trillion, up CNY 251.4 billion from the previous trading day. Even as the selloff widened, the power sector showed resilience, with Guiguan Electric Power and Shennan Electric A hitting their daily limit up, while some financial shares advanced, including Xiangcai Co., Ltd., which reached its daily limit up, and China Construction Bank, which rose more than 3%. By contrast, pharmaceutical stocks and computing power hardware names were among the hardest hit, with several shares falling to their daily limit down.