Stock indexes slide amid concerns over effect of new IPOs

Stock markets in the Chinese mainland fell Thursday, with new IPOs seemingly in the pipeline.

The benchmark Shanghai Composite Index fell by 10.35 points or 0.50 percent to 2,057.03 points on Thursday.

The Shenzhen Component Index inched down by 15.28 points or 0.21 percent to 7,419.44 points.

Combined turnover on the two bourses on Thursday was 142.67 billion yuan ($22.50 billion), up from the previous trading day's 140.45 billion yuan.

On Wednesday, the China Securities Regulatory Commission unveiled a fourth batch of draft IPO prospectuses for 10 firms to get listed on the mainland stock markets, bringing the total number of draft IPO prospectuses released since Saturday to 75.

The possible resumption of new IPOs has raised concerns among investors that it could lead to funds being drained away from existing stocks.

Stocks that have listed this year have seen an overall decline. Geron Co has fallen the most, sinking by 8.64 percent to 26.02 yuan

Shares linked to lottery and health-care companies also declined on Thursday. Guangdong Guangzhou Daily Media Co fell by the daily limit of 10 percent to 16.25 yuan, while Jiangsu Yuyue Medical Equipment and Supply Co also plunged by 10 percent to 27.59 yuan.

Meanwhile, real estate developers and coal companies, as well as firms making wearable devices outperformed.

ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, fell on Thursday for a fourth consecutive day. The index dropped by 6.93 points or 0.52 percent to 1,319.51 points.