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Bourse down 0.5%

Bourse down 0.5%

Write: Aeryn [2011-05-20]
The nation's stock market ended down 0.5 percent Wednesday, snapping a four-day rising streak, with some investors taking profits in resource issues as commodities like oil and copper retreated from multi-year highs.
The benchmark Shanghai Composite Index fell to 2,838.6 points in thin trading.
"The technical correction is natural due to profit-taking after rapid gains," said Li Huiyong, analyst at Shenyin Wanguo Securities Co.
"The market is not yet clear in its direction and some people are worried about signs of slowing economic growth," Li said.
Profit-taking on the day took its toll on mining companies, in particular gold producers.
The Shenzhen Component Index lost 0.53 percent, or 66.89 points, to close at 12,647.63 points.