Flat close for Shanghai stocks

Huang Yixuan
Auto shares lead the gains and the national defense and military sector performs strongly while computer shares see a decline.
Huang Yixuan

Shanghai stocks closed generally flat on Tuesday, with the national defense and military sector performing strongly while computer shares fell.

The benchmark Shanghai Composite Index dipped slightly by 0.03 percent to 3,043.94 points, while the smaller Shenzhen Component Index extended growth by 0.16 percent to 9,545.52 points and the blue chip CSI300 index edged up 0.03 percent to end at 3,937.17 points.

Total turnover on the two major bourses dropped to 538.7 billion yuan (US$78.33 billion) from 614.13 billion yuan in the previous session.

Auto shares led the gains, as the World New Energy Vehicle Congress opened on Tuesday, at which Wan Gang, vice chairman of the National Committee of the Chinese People's Political Consultative Conference, said fuel cell vehicles are the best choice to meet the requirements of the market. Great Wall Motor Company jumped 8.29 percent, and Anhui Ankai Automobile Co rose by 5.05 percent.

The national defense and military sector was also among the big gainers, with China Harzone Industry Corp surging by the daily limit of 10 percent and China Shipbuilding Industry Company up by 7.49 percent.

Shares in health-care companies, precious metal firms and the energy equipment industry also rose in general.

Computer hardware companies, however, posted losses. Cashway Technology Co tumbled by the maximum 10 percent, and Dawning Information Industry Co fell 4.04 percent.

Semiconductor sector and electronic component shares also declined.

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