Profit-taking hits shares

Source: Xinhua | 2017-02-24

SHANGHAI stocks edged down yesterday as investors took profits in cement companies.

The Shanghai Composite Index dipped 0.3 percent to 3,251.38 points, ending a three-day winning streak.

Investment sentiment was also hurt after the People’s Bank of China and other financial regulators vowed stricter rules over the asset-management industry to prevent financial risks, said Cao Xuefeng, head of research at Huaxi Securities.

Cement maker Sichuan Golden Summit lost 7.8 percent to 16.33 yuan (US$2.38).