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Coal miners shine amid bleak stocks
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China stocks dipped yesterday with most sectors losing.
At close, the Shanghai Composite Index was down 0.06 percent at 3,217.53 points while the smaller Shenzhen Component Index lost 0.42 percent. The ChiNext Composite Index shed 0.75 percent.
The STAR 50 Index, which tracks the 50 biggest and most representative companies listed on the tech-heavy STAR Market for more than six months, slumped 1.84 percent.
But the bluechip CSI300 index was up 0.26 percent, as the profits of China鈥檚 large industrial firms grew for a fourth straight month in August, buoyed in part by a rebound in commodity prices and equipment manufacturing, the National Bureau of Statistics said on Sunday.
Bucking the trend, coal mining led the gains with the sector鈥檚 index gaining 2.74 percent as profits increased rapidly in August on rising prices.
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