Shares close generally flat

Shanghai shares closed generally flat today although brokerage shares retreated from earlier rallies.

The Shanghai Composite Index edged up 0.08 percent, or 2.57 points, to close at 3,365.23 points.

Brokerages fell from yesterday’s rally while financial shares also dropped. Changjiang Securities lost 1.57 percent to 10.01 yuan and Citic Securities shed 1.10 percent and Bank of Communications dipped 0.60 percent to 6.66 yuan.

Property developers were also among the decliners. Poly Real Estate Group shed 0.96 percent and AJ Corporation lost 1.06 percent.

China Investment Securities wrote in a note today that focus in the near future would still be on reforms in state-owned enterprises in telecommunications, oil and refineries as well as defense sectors.