Leo Zhang/Shanghai Daily news

Shanghai stocks yesterday edged down amid profit-taking after a two-day run. Airlines headed south on concern of higher fuel costs after crude oil prices jumped on the international market.
The Shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, dipped 0.31 percent to 1,086.55. The gauge soared 4.2 percent in the previous two sessions.
The A-share Index fell 0.30 percent to 1,142.45 and the B-share Index slid 1.55 percent to 58.54.
"The market has yet to turn bullish," said Wei Ming, a Guotai Junan Securities Co trader. "Investors prefer to reap short-term gains amid uncertainty."
China Southern Airlines Co, the country's biggest air carrier by fleet size, eased 2.50 percent to 2.73 yuan (34 US cents).
China Eastern Airlines Corp, the third-largest, dropped 2.05 percent to 2.39 yuan while Hainan Airlines Co, the fourth-largest and partly owned by US financier George Soros, retreated 2.07 percent to 2.37 yuan.
Under the program to sell state stockholdings in listed companies, about 40 firms will have plans for shareholders to vote on by the end of August.
"Whether blue chips such as Baoshan Iron & Steel and China Yangtze Power Co can gain support from investors will determine if an uptrend or a downside occurs," Wei said. Baoshan's meeting is scheduled on August 12 and Yangtze Power on August 5.