China: Market ekes out gain

Mainland China share market finished edge higher on Tuesday, 06 May 2014, as gains in telecom, technology and materials shares were more than offset losses in developers and financials. The benchmark Shanghai Composite Index finished the session 0.68 point higher at 2028.04, after touching an intraday low of 2021.49 and intraday peak of 2038.70.

Market turnover was, however, limited amid lingering concern about economic growth slowdown and worries that new share sales will divert funds from existing equities. The China Securities Regulatory Commission unveiled prospectus of 30 initial public offering (IPO) applicants on Monday, bringing the total number to 241 since April 19.

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