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Stocks end flat on cautious sentiment
1/10/2005 17:06

Fu Chenghao/Shanghai Daily news

Shanghai shares finished flat in cautious trade in the last trading session before the National Day holiday yesterday.
China's stock exchanges will be closed next week for the holiday and reopen on October 10.
The shanghai Composite Index, which tracks yuan-denominated A shares and foreign-currency B shares, edged up 0.01 percent to 1,155.61. Turnover fell to 6.96 billion yuan (US$859 million) from 8.63 billion yuan in the previous session.
The a-share Index added 0.01 percent to 1,214.01 while the B-share Index eased 0.12 percent to 67.65.
"The fall in turnover reflected the cautious market sentiment as the holiday's around the corner," said Wei Wei, a West China Securities trader.
The post-holiday market performance will depend heavily on the progress of the non-tradable share reform and the timetable for the resumption of new initial public offerings, analysts said.
Shanghai pudong Development Bank Co added 1.47 percent to close at 8.30 yuan after announcing it was prepared to take part in the state-share reform program.
Companies that have B shares or Hong Kong-listed H shares were in demand after news reports said that the timing is right for them to start a state-share sale program.
Jiangxi copper Co increased 2.05 percent to close at 5.47 yuan.