Shanghai Daily news

After rising for two consecutive days, shares in Shanghai fell yesterday in a correction, paced by blue chips amid profit-taking sentiment.
The Shanghai Composite Index, which covers both yuan-denominated A shares and hard-currency B shares, dived 2.01 percent to 1,108.29. The A-share Index dropped 2.02 percent to 1,163.43, and the B-share Index ended 1.55 percent lower to close at 69.02.
"It's quite normal to see a correction after the market achieved a big rebound," said Zhang Qi, an analyst with Haitong Securities Co Ltd.
The Shanghai benchmark gauge surged 11.6 percent during the period from Monday to Thursday, and saw the biggest single-session advance in nearly three years on Wednesday.
"The upbeat (sentiment in the) market in previous sessions did help to restore investor confidence partly, but also gave them reasons to take profit now," Zhang added.
China Petroleum and Chemical Corp lost 3.68 percent to end at 3.66 yuan after its share price jumped 17 percent in the previous two sessions.
Yesterday was the day for shareholders of Sany Heavy Industry Co and Tsinghua Tongfang Co, two of the four firms in the first group to participate in the nontradable share sale program, to vote on the compensation proposals.
The results were not available before the market closed, which also contributed to some uncertainties among investors and pulled down the indexes.