Shanghai shares continue to correct

Brokerage urges investors to remain cautious     

SHANGHAI stocks continued to correct today as investors were urged to take caution.     

The Shanghai Composite Index edged up 0.13 percent to end at 3,337.86 points. 

AVIC Securities noted that although the benchmark index rebounded yesterday afternoon, investors were urged to   take a wait-and-see attitude in the near future. 

Steel makers jumped with Fangda Special Steel Technology Co up 4.72 percent and Anyang Iron & Steel Co surging by the daily limit of 10 percent to 5.18 yuan (79 US cents). Xining Special Steel Co advanced 7.59 percent to 5.81 yuan. 

Raw material makers were weak with nickel futures down four percent while the copper price also fell. 

Brokerage shares, however, were mixed. GF Securities dipped 0.22 percent to 17.86 yuan and Everbright Securities shed 0.99 percent to 14.99 yuan. Northeast Securities added 0.86 percent to 9.37 yuan. 

Zhejiang Haisun Pharmaceutical lost 7.67 percent and Bright Dairy and Food Co fell 3.48 percent to 13.86 yuan.

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