Blue chips lead key index lower
Print Edition
Shanghai shares edged down yesterday as the key index was dragged lower by blue chips like bank counters as well as a sell-off of stocks related to the newly setup free trade zone in Shanghai.
The Shanghai Composite Index slipped 0.19 percent to close at 2,233.41 points.
The Industrial and Commercial Bank of China, the nation’s biggest listed lender, slid 1.03 percent to 3.84 yuan (63 US cents). The Bank of China lost 1.41 percent to 2.79 yuan. China Construction Bank fell 1.62 percent to 4.25 yuan.
CSSC Jiangnan Heavy Industry Co shed 2.22 percent to 12.80 yuan. China CSSC Holdings fell 1.71 percent to 18.37 yuan.
Investors also took profit on shares that are related to the pilot FTZ in Shanghai, said Guo Yiming, an analyst with Jufeng Investment Information Co.
CITIC Securities said it expected China’s monetary policy to remain stable.
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