Shanghai Composite falls 0.47% on profit taking

Mainland China share market closed down in volatile trade on Wednesday, 05 November 2014, registering first fall in seven consecutive sessions, as profit booking resumed after the benchmark indices hitting 21-months peak yesterday. The selloff pressure also mounted on concern recent gains were excessive and after a private report showed expansion in the nation's service industry slowed. The benchmark Shanghai Composite Index, which tracks both A and B shares, closed at 2419.25, down by 0.47% from yesterday's closure of 2430.68, a highest close since 8 February 2013 when it finished at 2432.40. The Shanghai Composite gained 5.6% during the six-day winning streak.

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