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Coal counters lead Shanghai shares lower
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SHANGHAI stocks continued this week’s decline in the morning session, losing 0.59 percent to 2204.33 points. Blue chips fell.
Coal shares suffered the most, as new policies were issued yesterday to administer the industry, which eases restrictions in the market. The change indicates the coal industry has passed the period of rapid development, analysts said.
Anyuan Coal Industry lost 6.43 percent to 5.24 yuan, while Zhengzhou Coal Industry & Electric Power was down 4.86 percent to 5.09 yuan.
Companies in Tibet preformed well. At the end of last month, the Ministry of Transport issued a policy to build more roads in the region while on August 4, the local government decided to promote township across the region. The plans stimulated shares of related companies.
Tibet Tianlu, a road construction company, was up 0.54 percent to 7.44 yuan. Tibet Urban Development and Investment rose 0.63 percent to 12.85 yuan.
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