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Shanghai shares close flat in the morning

SHANGHAI shares closed almost unchanged in the morning session as good performance of metal stocks was offset by sluggish financial counters.

The benchmark Shanghai Composite Index, which tracks the mainland's bigger stock bourse, edged up 0.05 percent to 3,276.56 at the mid-day break. Losers outnumbered gainers by 524 to 247.

The Shenzhen Component Index, which covers the smaller domestic market, inched down 0.34 percent to 13,652.69.

"Some investors chose to cash out from heavyweights after yesterday's gain," said Liu Yu, an Orient Securities Co trader. The Shanghai barometer jumped 2.74 percent to finish yesterday at a three-month high.

Zijing Mining Group Co rose 0.30 percent to 9.91 yuan (US$1.45). Jiangxi Copper Co, the country's biggest producer of the metal, increased 0.16 percent to 43.01 yuan.

China Life Insurance Co, the nation's top life insurer, lost 0.31 percent to 31.76 yuan. Ping An Insurance (Group) Co, the second largest, dropped 0.23 percent to 61.88 yuan.


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