On 17 July, the A‑share market suffered a heavy blow. The ChiNext Index plunged more than 7% by the close. Lianxun Instruments hit its daily limit down for the first time since listing, losing its crown as the 'king of stocks'. At the close, Lianxun Instruments traded at 1,586.42 yuan per share, down 20%, with a latest market capitalisation of about 162.9 billion yuan. Compared with its peak of 2,777.77 yuan on 25 June this year, the stock has fallen by nearly 1,200 yuan cumulatively, a decline of more than 40%. With Lianxun Instruments hitting limit down, optical chip maker Yuanjie Technology reclaimed the top spot as the highest‑priced A‑share. Although Yuanjie Technology closed sharply lower by 9.31% at 1,656 yuan per share, it still stood above Lianxun Instruments. Currently, four A‑shares are priced above 1,000 yuan. Besides Yuanjie Technology and Lianxun Instruments, Kweichow Moutai is at 1,253 yuan per share and Cambricon at 1,190.58 yuan per share. Meanwhile, Zhongji Innolight plunged 12% on the day, falling below the 1,000‑yuan mark to close at 979.46 yuan per share.
