Metals shine through tarnished Chinese equities

Shanghai. June 26. INTERFAX-CHINA - Chinese equities were mixed on Thursday, though nonferrous metals showed their mettle thanks to bargain hunting.

The benchmark Shanghai composite index (SCI) eased 3.16 points, or 0.11 percent, finishing the day at 2,901.85 points. The Shenzhen component index rose 0.18 percent ending at 9,999.66 points.

Large-cap shares were broadly lower today, weighing down indices.

Sinopec, the second-largest oil company in China, lost 2.16 percent to RMB 11.30 ($1.65).

Baosteel, the largest steelmaker in China, weakened 1.25 percent to RMB 9.47 ($1.38).

Smaller rival Wuhan Iron and Steel dropped 1.74 percent to RMB 10.71 ($1.56).

The Industrial and Commercial Bank of China, the country's largest lender, dipped 2.08 percent to RMB 5.17 ($0.75).

Pudong Development Bank shed 1.57 percent to RMB 24.53 ($3.58).

However, shares among nonferrous metals companies rose against the weakness of the whole market thanks to bargain hunters.

The Aluminum Corporation of China (Chalco) expanded by the daily limit of 10 percent to RMB 14.19 ($2.07).

Jiangxi Copper, the largest copper producer in China, climbed 4.09 percent to RMB 23.90 ($3.48).

Xiamen Tungsten lifted 5.90 percent to RMB 8.79 ($1.28).

Jinlin Ji En Nickel strengthened 3.92 percent to RMB 25.18 ($2.67).

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