Leo Zhang/Shanghai Daily news

Shanghai shares ended basically flat yesterday after media reports said the central government pledged to reduce market volatility as it moves to overhaul the structure of the capital sector.
The Shanghai Composite Index, which tracks both yuan-denominated A shares and hard-currency B shares, inched up 0.17 percent to 1,090.19. The A-share index added 0.17 percent to 1,145.87 and the B-share index rose 0.54 percent to 60.89.
"The government wanted to deliver a message that it would strive to protect investors' interest," said Wu Zhiguo, a Guohai Securities Co analyst. "But the response (from the investors) seemed a bit lukewarm and the uptick may be short-lived as the bourse will likely experience a short supply of funds toward the year's end."
Five state agencies, including the China Securities Regulatory Commission and the State-owned Assets Supervision and Administration Commission, agreed at a Thursday meeting that the current state shareholding revamp should continue in an orderly manner and to maintain market stability, several state newspapers reported yesterday.
The government plans to finish the restructuring in all its 1,300-plus public firms by the end of next year, according to earlier news reports.
China Southern Airlines Co, the country's biggest carrier by fleet, jumped 3.60 percent to 2.59 yuan (32 US cents). The company said it carried 4.08 million passengers last month, up 53 percent from a year earlier.
Sinopec Shanghai Petrochemical Co, China's No. 1 maker of ethylene, gained 0.58 percent to 3.46 yuan after oil prices dropped to more than three-month lows.