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Shanghai stock trading ebbs in morning session
By Lydia Chen |
March 30, 2011, Wednesday
|
Online Edition
Online Edition
SHANGHAI stock market extended losses in the morning session today with trading continued to contract as investors chose to sit aside.
The Shanghai Composite Index fell 0.48 percent to 2,943.85. Turnover shrank to 82.84 billion yuan (US$12.63 billion) from yesterday morning's 107.23 billion yuan.
Irrigation shares, which were one of the few sectors that rose against a fall of 0.9 percent of the Shanghai market, paced the decline this morning.
Chongqing Three Gorges Water Conservancy & Electric Power Co shed 4.88 percent to 19.51 yuan.
Cement makers, however, outperformed the market in morning trading as a report by China International Capital Corp said a valuation correction could be expected in the sector as their profits are likely to stay high by next year.
Huaxin Cement Co added 1.06 percent to 49.70 yuan. Anhui Conch Cement Co climbed 1.51 percent to 39.66 yuan.
The Shanghai Composite Index fell 0.48 percent to 2,943.85. Turnover shrank to 82.84 billion yuan (US$12.63 billion) from yesterday morning's 107.23 billion yuan.
Irrigation shares, which were one of the few sectors that rose against a fall of 0.9 percent of the Shanghai market, paced the decline this morning.
Chongqing Three Gorges Water Conservancy & Electric Power Co shed 4.88 percent to 19.51 yuan.
Cement makers, however, outperformed the market in morning trading as a report by China International Capital Corp said a valuation correction could be expected in the sector as their profits are likely to stay high by next year.
Huaxin Cement Co added 1.06 percent to 49.70 yuan. Anhui Conch Cement Co climbed 1.51 percent to 39.66 yuan.
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