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China shares mixed in early trade; airlines gain


Published : Fri, 31 Aug 2007 03:15
By : Agencies
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SHANGHAI (XFN-ASIA) - China shares were mixed in early trade with airlines gaining on a rising yuan, while metals companies were hit by continued profit-taking, dealers said.

At 9:44 am, the benchmark Shanghai Composite Index lost 2.29 points or 0.04 pct to 5,165.59, after opening up 16.21 points.

Air China Ltd (SHA 601111) rose 0.36 yuan to 17.81, while Shanghai Airlines Co Ltd (SHA 600591) added 0.19 yuan to 12.85.

Analysts said airlines could benefit from the appreciation of yuan because they have large foreign currency liabilities.

Aluminum Corp of China Ltd (SHA 601600; HK 2600) lost 2.75 yuan to 48.78.

(1 usd = 7.56 yuan)

lilian.wu@xfn.com

-

xfnlw/xfntm

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