Shares fall for 1st time in 3 days

Transport and financial shares retreated but gold producers rallied as the metal seen as a safe haven.
Shares fall for 1st time in 3 days

SHANGHAI stocks slipped today for the first time after rising for three days, with transport and financial shares giving up their gains.

The Shanghai Composite Index slid 0.87 percent to end at 3,180.16 points.

Transport and financial companies retreated, with China Construction Bank losing 3.02 percent and the Industrial and Commercial Bank of China shedding 2.56 percent. Cosco Shipping Holdings Co lost 2.60 percent to 5.63 yuan and China Railway Tielong Container Logistics Co fell 2.18 percent.

However, Chongqing Changan Automobile Co Ltd added 1.97 percent after it said it would set up a new energy vehicle joint venture with Internet giant Tencent.

Gold producers also rallied as investors considered the metal as a safe haven. Zhongjin Gold Mining Co jumped 1.94 percent and Shandong Gold Mining Co edged up 0.19 percent.

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