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On July 16, all three of A-shares’ major indices opened on a downward trajectory. The Shanghai Composite Index stood at 3,912.38 points, registering a 1.09% decline; the Shenzhen Component Index was at 14,497.43 points, dropping by 1.91%; and the ChiNext Index settled at 3,710.51 points, falling 2.48%. The sectors of communication equipment, semiconductors, and biotechnology experienced the most significant losses. Notably, Montage Technology saw its shares plummet by over 7%, Wanbang Pharmaceutical by more than 6%, while Yangtze Optical Fibre and Cable and TFC Communication both dropped by over 5%. Conversely, stocks associated with central state-owned enterprise banks, ready-to-eat meals, and Pinduoduo partner concepts showed resilience. LightInTheBox surged by over 3%, Dahu Aquaculture climbed more than 2%, and Bank of Communications edged up by 0.44%.
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