Article: Market

SHANGHAI

Stocks slip 0.12 per cent

Chinese mainland shares slipped 0.12 per cent yesterday, as funds sold big caps such as top Chinese steel mill Baoshan Iron and Steel Co Ltd to lock in gains from the last two days.

The benchmark Shanghai composite index finished at 1,098.323 points, after closing higher the previous two days.

Basosteel shed 1.01 per cent to 3.93 yuan (49 US cents), after gaining 1.28 per cent on Wednesday.

Asia's largest oil refiner, Sinopec Corp, fell 0.46 per cent to 4.31 yuan (53 US cents), following a 2.12 per cent surge the previous day.

"It's a wise move to take a quick profit in a weak market," said an analyst with Huatai Securities.

The major index, lifted ...

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