Markets drifted lower today despite an increase in trading volumes. Resources, finance and real estate sectors closed substantially lower. The benchmark Shanghai Composite Index closed at 2,588.57 down 0.82% or 21.44 points and the Shenzhen Component Index closed at 10,022.30 down 1.57% or 159.85 points. Combined turnover increased to RMB 192.2 bln, up from 181.93 bln the previous trading day.

Finance and Insurance Industrial and Commercial Bank (601398) down 0.70% to RMB 4.23, China Construction Bank (601939) down 0.89% to RMB 4.46, Bank of China (601988) down 0.85% to RMB 3.50, Bank of Communications (601328) down 2.01% to RMB 6.81, China Merchants Bank (600036) down 1.87% to RMB 16.29 and China CITIC Bank (601998) down 0.60% to RMB 4.96.

Ping An Insurance (601318) down 1.91% to RMB 38.48, China Life Insurance (601628) down 1.60% to RMB 22.71 and CITIC Securities (600030) up 1.33% to RMB 25.13.

Real Estate China Vanke (000002) down 3.01% to RMB 9.66, Poly Real Estate (600048) down 2.54% to RMB 21.14, Gemdale Corporation (600383) down 5.20% to RMB 15.31, Beijing North Star (601588) down 2.73% to RMB 5.34 and Huafa Industrial (600325) down 2.41% to RMB 19.00.

Resources and Energy PetroChina (601857) down 0.08% to RMB 13.09, China Petroleum & Chemical (600028) down 1.55% to RMB 10.14, China Shenhua Energy (601088) down 3.26% to RMB 25.19, China Coal Energy (601898) down 4.22% to RMB 11.13, Aluminum Corporation of China (601600) unch at RMB 10.75 and Zijin Mining (601899) down 1.04% to RMB 8.58.

Metals and Materials Baoshan Iron & Steel (600019) down 1.32% to RMB 5.99, Jiangxi Copper (600362) down 3.35% to RMB 27.96, Anhui Conch Cement (600585) down 4.35% to RMB 40.63, Wuhan Iron & Steel (600005) down 0.29% to RMB 6.98 and Maanshan Iron & Steel (600808) down 1.23% to RMB 4.03.

MY01/VW/YS
26 May 2009