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Some buying but worries over earnings also rattle
21/10/2005 8:34

Fu Chenghao/Shanghai Daily news

Shanghai share prices ended mixed yesterday amid bargain hunting and concerns over third-quarter corporate earnings, dealers said.
The benchmark Shanghai Composite Index, which tracks yuan-denominated A shares and foreign-currency B shares, edged up 0.12 percent to 1,135.95. The A-share Index added 0.12 percent to 1,193.83 while the B-share Index lost 0.50 percent to 64.07.
The Shenzhen Composite Index, which tracks the smaller of China's two markets, dipped 0.12 percent to 278.89.
"Buying in some big caps during the afternoon session helped to sustain the resilience (in the Shanghai market)," said Chen Qun, a West China Securities Co analyst.
China Yangtze Power Co, which owns the world's largest hydropower project, rose 0.57 to close at 7.11 yuan (88 US cents). China Petroleum & Chemical Corp, Asia's largest refiner, rose 1.30 percent to 3.91 yuan.
Both market heavyweights had lost more than 5 percent during the previous sessions.
Shanghai Pudong Development Bank Co surged 4.52 percent to 8.78 yuan, leading to gains in the financial counters.
Also, 59 companies released their third-quarter results on the two exchanges yesterday while another 6 released their earnings outlook. All listed firms are required to file the quarterly reports by end of the  month.
Maanshan Iron & Steel Co was down 0.71 percent to 2.81 yuan after announcing a slight rise in net profit for the third quarter.