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February 18, 2017

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Investors’ selloff hits shares

SHANGHAI shares fell yesterday as investors’ profit-taking offset gains made by brokerages.

The Shanghai Composite Index lost 0.85 percent to 3,202.08 points. For the week, the barometer gained 0.17 percent.

Most sectors fell, including industrial, telecom and infrastructure shares. Lingyuan Iron & Steel Co lost 4.61 percent to 3.52 yuan (51 US cents), China United Network Communications Ltd fell 3.42 percent to 6.50 yuan, and Hunan Tyen Machinery Co slid 4.26 percent to 12.82 yuan.

However, brokerages gained as the China Financial Futures Exchange eased curbs on domestic stock index futures trading by reducing margin requirements for transactions and commission fees from yesterday.


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