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August 23, 2016

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Profit-taking sends shares lower

SHANGHAI shares closed lower yesterday as investors took profits in infrastructure and transport companies.

The Shanghai Composite Index shed 0.75 percent to 3,084.81 points.

Shares of infrastructure and transport companies gave up their gains from last week after state media said investment by Chinese firms into countries along the “One Belt, One Road” trade route has already hit US$51.1 billion.

China COSCO Holding Co lost 2.05 percent to 5.25 yuan while China Railway Erju Co Ltd sank 3.77 percent to 12.51 yuan and Shanghai Construction Group fell 1.97 percent to 4.47 yuan.


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