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Chinese Stocks Down for Second Day Straight-July 11
 

Chinese stocks lost ground for the second day Tuesday, led by the nonferrous metal and coal sectors.

The benchmark Shanghai Composite Index was down 0.3 percent to 3,203.04 points. The Shenzhen Component Index closed 0.36 percent lower at 10,467.71points.

The combined turnover of stocks in the two indices shrank to 457.4 billion yuan (about 67.2 billion U.S. dollars) from 500.7 billion yuan on the previous trading day.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 1.07 percent to close at 1,783.91 points.

Over 2,000 shares lost ground on the two bourses with the nonferrous metal and coal sectors losing the most.
Fujian-based Xiamen Tungsten plunged 4.36 percent to close at 24.59 yuan, and Chengtun Mining dropped 4.85 percent to close at 7.26 yuan.

Yanzhou Coal Mining shed 3.35 percent to close at 12.68 yuan and Shaanxi Coal Industry Company dived 6.71 percent to close at 7.93 yuan.

On the liquidity front, China's central bank Tuesday resumed open market operations after a 12 trading-day suspension, in a move to supplement market liquidity.

The People's Bank of China (PBOC) pumped 40 billion yuan into the financial system through reverse repos, according to a statement.


(www.chinaview.cn 2017-07-12)
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