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Environmental shares rally in mixed trading

By Louise Ho (Global Times)

08:27, February 01, 2013

Stock markets in Shanghai and Shenzhen finished at odds Thursday as investors switched to a more cautious stance ahead of the Spring Festival holiday.

The benchmark Shanghai Composite Index tacked on 2.95 points, or 0.12 percent, to finish at 2,385.42; while the Shenzhen Component Index surrendered 116.17 points, or 1.19 percent, to close at 9,667.67.

The Shanghai Composite swung within a tight range throughout the day, pulled between losses and gains in several of the markets' heaviest sectors. Meanwhile, the Shenzhen Component, which is home primarily to small- and medium-cap stocks, was under pressure for most of the day due to earnings concerns.

Environmental protection stocks notched some of the biggest wins Thursday as northern and eastern China were hit once again by heavy airborne pollution. Inner Mongolia Hotision and Monsod Drought-Resistance Greening Co soared past the 10-percent daily trading limit to 37.75 yuan.

Nonferrous metals and electricity companies also stood among the day's best performers.

Shenzhen Zhongjin Lingnan Nonfemet Co jumped 9.98 percent to 10.25 yuan. Huadian Power International Co rose 8.12 percent to 4.13 yuan.

Individually, Angang Steel Co lost 2.7 percent to 3.97 yuan after announcing Thursday that it was expecting a heavier loss in 2012 compared to the previous year as weak global demand put a dent in steel prices.

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