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Market ends nearly flat in brisk trading
16/11/2005 6:45

Fu Chenghao/Shanghai Daily news

Chinese share prices pared early gains and closed lower with Internet firms and port companies losing ground, dealers said.

The Shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, dipped 0.11 percent to 1,087.51. The A-share Index slipped 0.10 percent to 1,143.06 while the B-share Index shed 0.30 percent to 60.67.

Turnover rose to 5.35 billion yuan (US$660 million) from 3.89 billion in the previous session.

The Shenzhen Composite Index, which tracks the country's smaller bourse, dropped 0.77 percent to 263.38. Shares changing hands were worth 3.82 billion yuan.

"Overall sentiment is still quite low amid a dearth of fresh leads," said Wei Wei, a West China Securities Co trader.

Internet stocks were hit as Jiangsu Zongyi Co tumbled 3.95 percent to 7.54 yuan. Zhaohua Science & Technology (Group) Co lost 2.61 percent to close at 2.24 yuan while Searainbow Holding Corp finished at 8.12 yuan, diving 2.05 percent.

Shenzhen Chiwan Wharf Holdings Ltd, which plummeted 6.23 percent to 12.94 yuan, led the decline among port operators on concern a stronger yuan may dampen exports.

Shanghai Port Container Co dropped 5.04 percent to 10.18 yuan and Yinkou Port Liability Co lost 2.79 percent to 8.01 yuan.

Zhejiang Medicine Co suffered profit taking and lost 3.09 percent to 5.02 yuan. It had posted gains in the past few sessions due to concerns over avian influenza.