Banking, coal sectors drag down Shanghai index

By Ji Xiang | August 25, 2014, Monday |

Online Edition

SHANGHAI stocks fell 0.51 percent today as the banking sector was hit by slack lending in August.

The Shanghai Composite Index closed down 11.54 points to 2,229.27 points.

Hua Xia Bank lost 1.76 percent to 8.37 yuan (US$1.36) while Bank Of Communications dropped 1.41 percent to close at 4.21 yuan.

The shares of more than 10 companies in the coal sector dropped at least 2 percent as prices for the fuel have continually dropped this year.

Wintime Energy decreased 5.46 percent to 4.85 yuan while Anyuan Coal Industry was down 3.64 percent to 4.76 yuan.

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