Shanghai shares/close -- 3 (focus on B-shares planning bonus issues)

One dealer at a foreign securities company said B-shares saw highly volatile trade as they struggled to break above record high levels achieved last week.	    She said sentiment was little affected by reports yesterday citing CSRC secretary-general Tu Guangshao as saying the commission will allow more companies to list B-shares, but added that sentiment remains generally strong following the launch at end-Feb of a policy giving domestic individuals formal access to the market.	    In particular, buying focused on companies which have already announced plans to launch bonus share issues, she said	    Shenyin & Wanguo Securities dealer Yan Dinggong said the strong upward momentum in the B-share market largely stimulated the A-shares, but added that he sees little basis for a sustained A-share rally.	    Although listed companies have generally reported an improvement in earnings in 2000, this has already been more than factored in, he said.	    Yan added that although overall market turnover has increased in recent sessions, B-shares account for the bulk of this increase, suggesting that the injection of fresh funds into A-shares remains limited.	    On their first day of trading, Shenyang Jinshan Thermoelectric closed at 17.39 yuan, up 11.39 from its issue price at 6.0 on volume of 30.5 mln shares, while Shanghai Mathsuoka closed at 20.8 yuan, up 4.4 from issue price at 16.4 on 24.3 mln shares.	    Baoshan Iron & Steel shed 0.03 yuan to 5.66 on 17.3 mln shares, while Baotou Steel Union declined 0.03 yuan to 6.63 on 6.7 mln shares and Beiman Special Steel gained 0.11 yuan to 8.42 on 5.4 mln shares.	    Minsheng Banking gained 0.03 yuan to 17.72 on 4.1 mln shares.	    Tsinghua Tongfang dropped 0.02 yuan to 42.66 on 6.9 mln shares.	    Among B-shares, Zhejiang Southeast Electric Power dropped 0.009 usd to 0.776 on 28 mln shares.	    Heilongjiang Electric Power gained 0.063 usd to 1.362 on 21.3 mln shares, while Inner Mongolia Erdos rose 0.061 usd to 12.64 on 18.4 mln shares, while Sha nghai Worldbest rose 0.026 usd to 0.759 on 18.9 mln shares.

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