Richard Fu/Shanghai Daily news

Despite the less attractive compensation by the latest group of firms involved in China's share reform plan, Shanghai stocks ended flat yesterday as drug firms helped prop up the market on hopes that their sales would rise on flu concerns.
The Shanghai Composite Index, which tracks both yuan-denominated A shares and foreign-currency B shares, dipped 0.01 percent to 1,141.17. The A-share Index closed flat at 1,199.57 while the B-share Index fell 1.43 percent to 63.13.
The B-share gauge has dropped 2.48 points after four consecutive losing sessions since October 19.
The sixth batch of 18 companies in the share overhaul scheme announced that they would offer fewer shares for compensation than their predecessors, the China Securities Journal said.
The newspaper also quoted an unidentified official as saying that China will speed up its share reform plan.
The news raised concern that a sudden increase in share supply would dilute the value of existing stocks, market nalysts said.
Pharmaceutical firms, however, were sought after on expectations of more sales of their influenza drugs.
Shandong Lukang Pharmaceutical Co surged 6.46 percent to 3.13 yuan (39 US cents) and North China Pharmaceutical Co jumped 4.70 percent to end at 2.5 yuan.
Falling prices
Steelmakers were under pressure as a nationwide glut drove down prices.
Wuhan Iron & Steel Co, China's third-biggest steel producer, fell 1.66 percent to 3.56 yuan after saying third-quarter profit fell 19 percent. Jinan Iron & Steel Co, which posted a drop of more than 50 percent in third-quarter net profit, tumbled 3.31 percent to finish at 4.97 yuan.
"The falling producer prices in the country also dampened market confidence in industries like steel and cement makers," said Zhang Qi, a Haitong Securities Co analyst.
Steel prices in China have been falling ever since April due to oversupply. Up to September 30, the average domestic steel price has fallen 13 percent, according to the China Iron and Steel Association.