Slight retreat for Shanghai stock prices
Shanghai stocks retreated slightly on Tuesday while those listed on the ChiNext board performed strongly.
The benchmark Shanghai Composite Index dipped 0.11 percent to end at 2,891.56 points, while the smaller Shenzhen Component Index rose 0.42 percent to 11,015.56 points.
The ChiNext Composite Index, meanwhile, jumped 1.01 percent to 2,124.15 points, and the blue chip CSI300 Index closed flat at 3,960.24 points.
Turnover on the two major bourses added up to 599.3 billion yuan (US$84.56 billion), shrinking from the 684.7 billion yuan in the previous session.
Overseas capital continued to pour into the Chinese mainland, posting a net influx 1.75 billion yuan via the Stock Connect schemes linking Shanghai and Shenzhen with Hong Kong.
Stocks of nearly 60 listed companies surged by over 9 percent, while 10 declined by more than 9 percent.
The medical industry led the rises. Maccura Biotechnology Co, Wuhan Easy Diagnosis Biomedicine Co, ChongQing Zhengchuan Pharmaceutical Packaging Co and Truking Technology Ltd all hit the daily limit of 10 percent.
Food and beverage shares rebounded, with Anji Foodstuff Co and Daodaoquan Grain and Oil Co both soaring by the 10 percent cap. The official consumer price indexes in April showed that food prices rose 14.8 percent year on year, lifting the headline CPI figure by 2.98 percentage points.
Shipbuilding shares, pharmaceutical firms, and aerospace company were all big gainers.
Among the 102 firms on the STAR Market, 46 companies closed higher, one remained flat, while the rest retreated. Shanghai Sanyou Medical Co gained the most by 20 percent, while Hangzhou Raycloud Technology Co shed 8.76 percent to become the biggest decliner.
