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Stock index ends lower in morning

SHANGHAI'S key stock index ended slightly lower in the morning session, led by heavyweights amid profit taking.

The benchmark Shanghai Composite Index was down 0.34 percent, or 11.57 points, to close at 3,423.64 points. Turnover stood at 130.69 billion yuan (US$19.21 billion) at midday break. Losers outnumbered gainers 452 to 404 and 21 remained unchanged.

The Shenzhen Composite Index, which tracks the smaller domestic market, rose 0.61 percent to close at 1,132.91 points.

PetroChina, the biggest component index, fell 1.28 percent to 16.17 yuan. China Petroleum & Chemical Corp, Asia's largest oil refiner, dropped 1.33 percent to 14.10 yuan.

China Shenhua Energy Co, Asia's largest coal producer, eased 1.96 percent to 39.50 yuan. Yanzhou Coal Mining Co slid 2.53 percent to 21.56 yuan. Pingdingshan Tianan Coal Mining Co tumbled 3.42 percent to 36.45 yuan. Datong Coal Industry Co plunged 4.32 percent to 49.38 yuan.

Toll road operator Sichuan Expressway tumbled by 10 percent daily cap to 9.81 yuan after more than tripling from its IPO price yesterday, China's biggest debut rally since March 2008.

Steel makers bucked the downward trend in morning trading. Baoshan Iron & Steel Co, the nation's biggest steelmaker, added 5.43 percent to 9.12 yuan. Anyang Iron & Steel Inc surged 8.92 percent to 6.96 yuan. Wuhan Iron and Steel Co was up 3.21 percent to 10.94 yuan. Handan Iron & Steel Co rose 4.91 percent to 7.48 yuan.


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