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Continued losses for coal, liquor weigh on shares

2014-05-15 08:04 Global Times Web Editor: Qin Dexing

Stock markets in the Chinese mainland saw mixed performance on Wednesday with the coal and liquor sectors falling, while the real estate sector gained.

The benchmark Shanghai Composite Index nudged down by 2.82 points or 0.14 percent to 2,047.91 points on Wednesday.

The Shenzhen Component Index inched up by 15.21 points or 0.21 percent to close at 7,325.52 points.

Combined turnover on the two bourses on Wednesday was 125.36 billion yuan ($20.12 billion), decreasing from the previous trading day's 153.54 billion yuan.

Coal and nonferrous stocks continued to fall on Wednesday, having dropped back on Tuesday after a sharp rise on Monday.

Liquor makers also declined, led by Kweichow Moutai Co. The premium liquor maker plunged by 3.40 percent to 155.27 yuan and Sichuan Swellfun Co slid by 2.50 percent to 7.02 yuan.

Oil stocks, which were boosted on the previous trading day due to expectations of oil sector reform, fell back on Wednesday. Shenzhen Guangju Energy Co fell by 3.04 percent to 6.38 yuan and Shaanxi Coal Industry Co fell by 3.50 percent to 4.41 yuan.

Meanwhile, shares in real estate companies continued to outperform on Wednesday.

The People's Bank of China, the central bank, held a meeting on Monday with commercial banks and encouraged them to speed up the approval of loans for first-time home buyers, according to media reports on Tuesday.

The country's two biggest developers by sales, China Vanke Co and Poly Real Estate Group Co, rose by 1.33 percent to 7.63 yuan and 1.62 percent to 7.52, respectively.

ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, fell by 2.42 points or 0.19 percent to 1,278.66 points on Wednesday.

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