Shares extend decline for 4th straight session

Source: Xinhua | 2018-05-29

SHANGHAI stocks extended their decline for the fourth straight session yesterday as defense and military firms fell.

The Shanghai Composite Index dipped 0.2 percent to close at 3,135.08 points.

Defense and military shares such as Avic Shenyang Aircraft Co lost 6.06 percent to 34.26 yuan (US$5.35) and CSSC Offshore & Marine Engineering Company Limited dropped 4.83 percent.

Iron and steel companies also fell, with Inner Mongolia BaoTou Steel Union Co down 9.95 percent while Xining Special Steel Co and Shanghai Broadband Technology Co both shed over 5 percent.

Non-ferrous metal firms Jiangsu Dingsheng New Materials Joint-Stock Co shed 9.94 percent and Western Gold Co fell 7.24 percent.