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China shares close lower on cautious sentiment


18:46, June 27, 2013

BEIJING, June 27 (Xinhua) -- Chinese shares lost a mild rebound in the morning trade and ended in negative territory on Thursday as sentiment remained cautious after market turmoils in the previous trading days.

The benchmark Shanghai Composite Index shed 0.08 percent, or 1.48 points, to end at 1,950.01, and the Shenzhen Component Index shrank 0.3 percent, or 22.07 points, to 7,544.33.

Total turnover on the two bourses grew to 188.75 billion yuan (30.54 billion U.S. dollars) from 182.09 billion yuan the previous trading day, driven by bargain hunting in the morning.

The cement industry led Thursday's rises by increasing 0.75 percent, as investors expect the country's initiative to redevelop run-down urban areas -- including 3.04 million households planned for this year -- to boost investment and consumption.

Henan Tongli Cement Co. Ltd. rose by the daily cap of ten percent while Shaanxi Qinling Cement (Group) Co. Ltd. added 2.49 percent to reach 4.52 yuan per share.

The aircraft manufacturing sector was the biggest loser Thursday, with the sub-index for the sector down 3.68 percent.

China Spacesat Co. Ltd. dipped 3.48 percent to close at 14.44 yuan per share. Shaanxi Aerospace Power Hi-Tech Co. Ltd. lost 4.24 percent to end at 10.61 yuan per share.

China's stock market recorded the biggest daily losses in four years on Monday on liquidity concerns as the country's short-term interbank rates rocketed to unusually high levels during the past two weeks.

Market panic has begun to ease following the central bank's move to calm the market, saying it has boosted liquidity support for some cautious financial institutions.

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