Leo zhang/Shanghai Daily news

Shanghai shares fell yesterday for a fourth straight day, led by large-cap companies on concern revised compensation packages under the state-share sale program may fail to meet investors' expectations.
"Investors still want more," said Zhang Qi, a Haitong Securities Co analyst. "It's hard to tell whether companies such as China Yangtze Power Co could gain public support after sweetening offers to compensate minority shareholders."
The shanghai Composite Index, which groups yuan-denominated A shares and foreign-currency B shares, lost 2.34 percent to 1,055.59 The A-share Index shed 2.35 percent to 1,108.46 and the B-share Index eased 1.94 percent to 64.04.
Yangtze power, operator of the Three Gorges Dam, may offer investors 1.7 shares for every 10 held, the Oriental Morning Post reported yesterday. It has yet to unveil an official compensation plan.
The company had previously suggested government shareholders would offer investors one share for every 10 shares held, and warrants giving the right to buy two non-tradable shares at 6 yuan (97 US cents) each for every 10 shares held.
China merchants Bank Co, the nation's biggest publicly traded lender, dropped 2.31 percent to 5.92 yuan. China Shipping Development Co, the country's No. 1 oil carrier, fell 0.44 percent to 6.72 yuan.