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Article: Market
- Article from:
- China Daily
- Article date:
- January 12, 2006
CopyrightCopyright 2006 China Daily. Provided by ProQuest LLC. (Hide copyright information)
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SHANGHAI
Funds take profits on big caps
Chinese mainland's shares fell 0.78 per cent yesterday as funds
took profits on big caps such as the country's top steel maker,
Baoshan Iron and Steel Co Ltd, to lock in profits after several days
of strong gains.
The benchmark Shanghai composite index closed at 1,211.053 points,
snapping five straight days of gains.
Analysts said the dip was expected, following the strong start to
2006.
Baosteel, among the most actively traded stock of the day, shed
0.25 per cent to close at 4.07 yuan (50 US cents).
Top Shanghai-listed lender China Merchants Bank Co Ltd fell 1.29
per cent to 7.68 yuan (94 US cents). Its shares have climbed some 20
per cent since the ...