Fu Chenghao/Shanghai Daily news

Shanghai stocks dropped yesterday although the decline was offset by late session buying in heavyweights such as mobile carrier China Unicom, dealers said.
The Shanghai Composite Index, which tracks yuan-denominated A shares and foreign-currency B shares, shed 0.26 percent to 1,089.95. The A-share Index fell 0.26 percent to 1,145.91 while the B-share Index lost 0.59 percent to 59.41.
"Some big caps were under pressure as many institutional players adjusted their portfolios," said Wei Wei, a West China Securities Co trader. "The index should remain under the 1,100 level in the near future as sentiment is still low."
Energy producers fell even though the China Electricity Council said the country will consume 11 percent more electricity next year.
China Yangtze Power Co dropped 1.10 percent to 7.16 yuan (88 US cents) while Huadian Power International Corp lost 1.50 percent to close at 2.63 yuan.
Shanghai Automotive Co was hit after Xinhua news agency reported the State Council is giving priority to develop public transport because of dense populations in cities and limited space, something that may dampen demand for cars. The listed unit of the country's biggest carmaker finished trading at 3.13 yuan, down 1.88 percent.
Price manipulation
Elsewhere, China United Telecommunications Corp, which controls the nation's smaller cellular phone operator, finished flat at 2.57 yuan after late afternoon buying.
Baoshan Iron & Steel Co, the country's biggest steelmaker, declined 1.52 percent to end at 3.90 yuan.
Warrants of the steelmaker fell 13.92 percent to close trading at 0.965 yuan after surging an abnormal 46.5 percent, far above the actual value, on Monday.
The Shanghai Stock Exchange has monitored any accounts it considered involved in possible price manipulation and may take legal action after an investigation, the China Securities Journal reported.
Asia's top refiner China Petroleum & Chemical Corp remained in demand to close 1.79 percent higher at 3.99 yuan after jumping 3.16 percent in the previous session.
The Shenzhen Stock Exchange, which tracks the country's smaller bourse, declined 0.26 percent.