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China B-Shares Close Lower, Textile Issues Hit by Profit Worries

China B-Shares Close Lower, Textile Issues Hit by Profit Worries

Write: Pell [2011-05-20]

SHANGHAI (AFX) - B-shares in Shanghai and Shenzhen closed lower, with textile companies weighed down by profit concerns, dealers said.

The Shanghai B-share Index fell 1.27 points to 85.53 on turnover of 18.39 mln usd and the Shenzhen B-share Index was down 3.44 points at 251.01 on turnover of 153.80 mln hkd.

The FTSE/Xinhua China B 35 Index was down 40.50 points at 3,556.43.

The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed down 20.92 points, or 1.60 pct, at 1,285.67.

Turnover rose to 14.62 bln yuan from 11.71 bln in the previous session.

The index moved between 1,281.57 and 1,307.64.