Shanghai bourse holds steady

Huang Yixuan
Shanghai stocks remained steady on Wednesday after the sharp fall and rise in the previous two sessions.
Huang Yixuan

Shanghai stocks remained steady on Wednesday after the sharp fall and rise in the previous two sessions.

The benchmark Shanghai Composite Index closed generally flat, up 0.08 points to 2,570.42 points, while the turnover shrank to 126.8 billion yuan from 137.3 billion yuan on Tuesday.

The smaller Shenzhen Component Index dipped 0.09 percent to 7,540.45 points, and the bluechip CSI300 index edged up 0.02 percent to end at 3,128.65 points.

Stocks of 35 companies listed on the A-share markets surged by the daily cap, while 9 tumbled by the maximum 10 percent.

Coal shares were among the biggest gainers, with stocks of three companies, as the State Administration of Coal Mine Safety recently announced to enhance regulation, which will call a halt to some coal mines for further examination, thus leading to an increase in coal price. WinTime Energy Co, Yunnan Coal & Energy Co and Shanxi Meijin Energy Co, soared by the daily cap of 10 percent. 

Shanghai Hanbell Precise Machinery Co rose sharply to hit the 10 percent daily cap, and Juli Sling Co jumped by 5.97 percent, as Chinese president Xi Jinping visit the Xiong'An New Area in Hebei today.

Communication stocks, however, dropped in general. Beijing Bewinner Communications Co, GHT Co, and Shenzhen Geoway Co all fell by over 5 percent.

Electronic component companies were also among the decliners.


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