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Blue chips lead Shanghai market down
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SHANGHAI stocks edged down 0.11 percent to 2,242.96 points in midday trading, due to poor performances in blue chips.
Coal shares decreased on news over lower coal purchase prices offered by electricity companies. The sector is also negatively affected by a new national plan to develop clean coal.
Wintime Energy lost 5.50 percent to 5.15 yuan (81 US cents), while Anyuan Coal Industry dropped 1.97 percent to 4.97 yuan.
Media shares saw a general drop this morning, after several companies gained yesterday by the maximum daily limit of 10 percent.
Time Publishing and Media decreased 2.55 percent to 18.33 yuan, while China Television Media was down 2.39 percent to 16.76 yuan.
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