Shanghai A-shares close flat; B-shares at new high

SHANGHAI (AFX-ASIA) - A-share prices closed flat amid consolidation following several sessions of gains, with sentiment firm on the belief that the government will be unwilling to allow share prices to correct, dealers said.	    The news over recent days has given weight to speculation that the government is giving priority to ensuring the market remains active, and will not allow a crackdown on trading irregularities to interfere with this aim, they said.	    They added that an improvement in listed companies' earnings in 2000, and a change in the pricing method for initial public offerings, have supported A-share buying over recent days.	    The A-share index dropped 0.78 points or 0.03 pct to 2,208.44 on turnover of 12.48 bln yuan after trading between 2,215.07 and 2,198.62.	    B-share prices closed higher, at a record high closing level, in highly volatile trade which saw prices repeatedly dropping to lows and rebounding sharply, they said, adding that profit-taking was strong as prices fought to rise above record high levels reached last week.	    They added that buying interest focused on stocks which are preparing to launch bonus share issues, and those which plan to pay dividends on their 2000 results.	    The B-share index closed 1.28 points or 0.82 pct higher at 156.65 after trading between 157.47 and 153.44.	    The composite A and B-share index closed 0.38 points or 0.01 pct lower at 2,106.87 on turnover of 15.61 bln yuan after trading to a high of 2,112.87 and a low of 2,096.91.	    The SSE-30 index dropped 17.60 points to 4,062.79.	    more

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