Shanghai’s tech-focused STAR Market and Shenzhen’s start-up board ChiNext board fell.
Gaming and media stocks, including G-bits Network Technology and Perfect World Co tumbled, after authorities summoned gaming firms to ensure they implemented new rules for the sector. The CSI Media index dropped nearly 3%.
Stocks seen with links to “Metaverse”, a virtual shared space based on virtual reality technologies, also slumped, after their recent surge raised regulatory eyebrows and prompted state media to warn against investing in them.
But resources shares jumped to six-year highs after data showing China’s factory gate inflation hit a 13-year high in August, driven by roaring raw materials prices.
An index tracking energy stocks jumped 5.6% to the highest level in more than three years, while the CSI SWS Coal Index surged over 6%.
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