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Blue chips lead the Shanghai market down
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SHANGHAI stocks went down 0.46 percent to 2209.79 points by the midday trading break. Blue chips continued to lose after yesterday’s downward performance.
Coal shares all dropped on the Shanghai Stock Exchange, leading the downtrend in blue chips that surged during last week. Sdic Xinji Energy lost 3.69 percent to 3.92 yuan (62 US cents), while Wintime Energy was down 2.83 percent to 4.46 yuan.
The finance sector suffered too, as selling pressure mounts after strong performances in recent trading. Industrial Bank lost 2.12 percent to 10.64 yuan, while China Pacific Insurance (group) was down 2.20 percent to 19.56 yuan.
The overspread of Ebola virus in Africa is driving up vaccine-related shares. The construction of railways that will link China with several Southeast Asian countries served a strong stimulus for shares of companies that manufacture high-speed trains.
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