Stocks fall as investors cash in gains
Print Edition
SHANGHAI shares ended slightly lower yesterday, led by declines in electronics firms and brokerages as investors locked in profits from earlier gains. The Shanghai Composite Index closed down 0.07 percent at 2,903.65 points.
Electronics firms, telecommunications enterprises and financial shares were among the biggest losers. The electronics sector lost 1.30 percent and telecommunications 0.39 percent.
Market sentiment was weak after the index posted three days of straight gains. The Index jumped 1.07 percent on Monday and 1.61 percent on Tuesday positive economic data.
“Investors are advised to continue tracking high-quality shares and adapt to the changes in the market,” Xiangcai Securities said in a note.
Industrial Securities Co Ltd lost 2.84 percent to 5.13 yuan (76 US cents) and Shenzhen Kinwong Electronic Co Ltd fell 2.48 percent to 55.35 yuan.
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