Fu Chenghao/Shanghai Daily news

Textile counters paced the decline in Shanghai stock market yesterday after Xinhua news agency said the latest Sino-US talks on the dispute over garment exports ended fruitless.
The Shanghai Composite Index, which tracks yuan-denominated A shares and foreign-currency B shares, fell 1.13 percent to 1,139.55. The A-share Index lost 1.14 percent to 1,197.30 while the B-share Index eased 0.74 percent to 65.84.
Meanwhile, a poor forecast by Xu Bing, spokesman at the 98th session of Chinese Export Commodities Fair which is due to open today in Guangzhou, added concerns for textile stocks. He expected fewer deals during the fair, citing the inconclusive results of the Sino-US talks.
Shanghai Dragon Corp, the city's leading textile firm, tumbled 3.60 percent to 2.68 yuan (33 US cents) while Inner Mongolia Eerduosi Cashmere Products Co shed 0.25 percent at 4.00 yuan.
Shanghai Kai Kai Industrial Co plummeted 4.18 percent to close trading at 3.21 yuan, and its B shares lost 2.87 percent to US$1.69.
Elsewhere, analysts said investors were worried over companies' third-quarter results which should be filed before the end of this month.
"Concerns of more poor results dampened the sentiment," said Chen Qun, at West China Securities Co.
The analyst also said the market will continue to correct itself beyond the 1,100-point level in a narrow range over the next few weeks.
The Shenzhen Composite Index lost 1.23 percent to 279.10 yesterday.