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Investors sell shares prior to holiday
29/9/2005 9:13

Fu Chenghao/Shanghai Daily news

Investors sold off shares yesterday prior to the weeklong National Day holiday, pulling Shanghai stocks down, dealers said.
Still, the decline was modest as improved state-share sale plans from several companies boosted confidence.
The Shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, lost 0.13 percent to 1,131.77, the lowest close since August 5.
The A-share Index eased 0.13 percent to 1,188.96 while the B-share Index dipped 0.06 percent to 66.25.
"Interest was tailing off and investors were taking the last of the profits available on the recent runup before the holiday," said Lin Xuenong, a Huaxia Securities Co analyst.
Lin believes the market will remain at its current level to close out the week.
Several retailers, which gained in recent sessions in hope of solid sales during the holiday, dropped on profit taking.
Nanning Department Store Co fell 1.89 percent to close at 3.63 yuan (45 US cents) while Shanghai Yuyuan Tourist Mart Co finished at 5.34 yuan, down 0.37 percent.
Elsewhere, a Securities Daily report said 11 firms decided to offer more compensation to tradable shareholders, which helped bring back some sentiment, analysts said.
China United Communications Corp rose 0.40 percent to 2.52 yuan.