Shares fall for first time in 5 days

Tech and material companies end on positive note

SHANGHAI stocks retreated today for the first time in five days after banks and insurers showed mixed results although tech and material firms finished on the positive side. 

The Shanghai Composite Index dipped 0.23 percent to close at 3,285 points.

The Industrial and Commercial Bank of China added 2.52 percent to 5.7 yuan. Ping An Insurance (Group) Co, however, lost 1.48 percent to 54.04 yuan. 

However, tech companies gained, with Universal Scientific Industrial(Shanghai)Co Ltd advancing 2.07 percent to 14.78 yuan and Shenzhen O-Film Tech Co rising 1.75 percent to 19.23 yuan. 

Material shares continued their previous momentum, with Inner Mongolia Baotou Steel Union Co adding 4.33 percent to 2.89 yuan while Lingyuan Iron & Steel Co rose 6.56 percent to 4.06 yuan. Yunnan Coal & Energy Co surged by the daily limit of 10 percent and Shanghai Datun Energy Resources Co climned 7.97 percent to 13.81 yuan.

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