Shanghai shares extend losses

The market saw a widespread drop, with non-ferrous metal shares among the biggest declines as were iron and steel companies.

Shanghai stocks extended losses today, with non-ferrous metal firms among the biggest decliners.

The Shanghai Composite Index shed 0.92 percent to close at 2,733.88 points.

Non-ferrous metal firms such as Pengqi Technology Development, Shenghe Resources Holding Co and Jiangsu Lidao New Material Co all fell sharply by over 9 percent.

Iron and steel stocks such as Xining Special Steel Co and Shanghai Hongda Mining Co both tumbled by the daily limit of 10 percent.

Other decliners included national defense and military shares such as Aviation High-Technology Co which lost 4.15 percent and Avicopter PLC which shed 4.53 percent.

Textile and clothing shares were also not spared as HLA Corp and Sichuan Zhenjing Co both shed over 6 percent.

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