Zhang Liuhao/Shanghai Daily news

Shanghai shares fell yesterday as forecast over bearish half-year earnings raised concerns about the performance of listed firms.
The Shanghai Composite Index, which tracks both yuan-denominated A shares and hard-currency B shares, dipped 1.37 percent to 1,026.11. The A-share Index tumbled 1.32 percent to 1,078.84, and the B-share Index plummeted 6.49 percent to 55.57.
"The stocks which projected sluggish financial results for the year's first half worsened the weak sentiment in the market," said Chen Jinren, an analyst with Huatai Securities Co Ltd.
On the local market, 47 companies revealed their projections, more than  half of which said they may see a drop in profit or a net loss.
"These shares led the market's fall," Chen added. "Investors trimmed their positions before these firms posted the first-half reports."
Shanghai-based China Eastern Airlines Co dived 5.68 percent to 2.16 yuan (26 US cents), bringing down other airline stocks. China's third-largest carrier by fleet size predicted it is likely to lose money in the first half on bigger fuel bills.
Hainan Airlines Co lost 2.39 percent to 2.04 yuan after the nation's fourth-biggest carrier foresaw a more than 50-percent decline in net profit.
Huaneng Power International Inc plunged 5.55 percent to 5.45 yuan. The utility said net profit in the first half will shrink by 30 to 40 percent.