Fu Chenghao/Shanghai Daily news

Shanghai shares dipped yesterday to end a three-day rise, paced by  steelmakers which followed declines in warrant prices.
The Shanghai Composite Index, which tracks yuan-denominated A shares and foreign-currency B shares, edged down 0.37 percent to 1,110.82 with shares worth 5.41 billion yuan (US$668 million) changing hands from 6.19 billion yuan in the previous session.
The A-share Index eased 0.37 percent to 1,167.70 while the B-share Index put down 0.34 percent to end at 61.32.
Wuhan Iron & Steel Co tracked drops in its put warrants which were weighed down yesterday by an increasing supply. The country's third-largest steel mill's A shares tumbled 4.47 percent to finish at 2.78 yuan.
"Wuhan's decline even dampened investors' confidence over other steelmakers," said Chen Qun, a West China Securities Co analyst.
Baoshan Iron & Steel Co, China's biggest steelmaker, fell 0.25 percent to 4.00 yuan. The mill also issues warrants that plummeted yesterday.
Xining Special Steel Co dived 2.78 percent to 2.80 yuan while Jinan Iron & Steel Co finished at 4.51 yuan with a drop of 1.31 percent.
"The decline in the warrant derivatives may bring some money back to the mainboard stocks," Chen added.
Elsewhere, the nation's smaller mobile operator, China United Telecommunications Corp, added 0.38 percent to 2.62 yuan and Hainan Airlines Co gained 1.61 percent to 2.52 yuan.