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Chinese Markets Turn In Mixed Performances
The Shanghai Composite Index lost 3.07 points or 0.11% to close at 2,695.29 points today on transaction value of 131.837 billion yuan.
The Shenzhen Composite Index gained 40.08 points or 0.34% to close at 11,722.78 points today on transaction value of 121.47 billion yuan.
Qinghai Salt Lake Potash (000792, 63.57, +4.56%) and Qinghai Salt Lake Industry Group (000578, 28.71, +5.94%) recorded gains on news that Sinochem Group has invited Temasek Holdings to jointly acquire Canadian fertilizer maker Potash.
Stocks of companies from the rare-earth and permanent magnet sectors outperformed. A number of stocks rose by their daily limits, including Minmetals Development (600057, 20.12, +10.01%), Inner Mongolia Baotou Steel Rare-Earth (600111, 67.27, +10.01%) and China Nonferrous Metal Industry' (600758, 19.88, +10.22%).
Gas provider Sichuan Datong Gas Development (600593, 8.60, +4.37%) and Changchun Gas (600333, 10.02, +3.41%) surged by 8% in trading on news that several cities have recently held hearings on a natural gas price hike.
The real estate sector fell. It was reported that Beijing, Shanghai and Guangzhou have started to investigate housing units left idle. Hangzhou Binjiang Real Estate (002244, 11.11, -3.05%) and Zhonghong Real Estate (000979, 13.21, -3.51%) led losers.
Banks continued with their weak performances from the previous trading session due to rumors on provision regulations. Leading losers include Industrial Bank (601166, 25.31, -3.58%) and Bank of Nanjing (601009, 11.27, -2.68%).
The ChiNext Index gained 0.26% to close at 1,029.72 points today on transaction value of 6.578 billion yuan. A total of 57 stocks ended with gains, including 11 stocks which recorded gains of over 3%. Hunan Zhongke Electric (300035, 23.60, +10.02%), and Harbin Jiuzhou Electric (300040, 20.91, +9.99%) rose by their daily limits. Boai NKY Pharmaceuticals (300109, 77.49, -6.41%) was the largest decliner on the ChiNext board.
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