Media shares lead fall in index
Print Edition
Shanghai stocks fell yesterday, with technology, media and telecommunication firms offsetting gains made by financial shares.
The Shanghai Composite Index lost 0.23 percent to 2,128.86 points.
Media companies led the decline, with Jiangsu Phoenix Publishing and Media Co slumping 7.1 percent to 9.96 yuan (US$1.64). Zhejiang Daily Media Group Co dropped 5.9 percent to 31.89 yuan.
Datang Telecom Technology Co fell 6.4 percent to 11.92 yuan, and China United Network Communications Ltd shed 0.6 percent to 3.33 yuan.
Nomura Securities said in report that investors should exit the domestic stock market which has been rising for four months. The brokerage is not convinced the unveiling of structural reforms during the third plenum of the Communist Party of China next month could boost economic growth in the short term.
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