Shenzhen A-shares close lower; B-shares sharply higher

SHENZHEN (AFX-ASIA) - A-share prices closed lower in thin trade after extending losses in the second session, dealers said.

They said interest in the Shenzhen A-share market has gradually waned after the market last year stopped hosting initial public offerings, while trading interest continues to focus on A-share recent listings on the 

Shanghai market.

Upside potential for Shenzhen's A-shares appeared limited amid a general lack of fresh leads, they added.

B-share prices closed higher in continued strong domestic investor sentiment amid hopes of a surge in liquidity from June 1, when domestic individuals gain the right to use foreign currency deposited after February 19 to invest in B-shares, they said.

The A-share sub-index dropped 28.42 points or 0.53 pct to 5,255.89 on turnover of 8.98 bln yuan after trading between 5,288.97 and 5,246.23.

The B-share sub-index rose 58.78 points or 2.57 pct at 2,339.76 after  trading to a high of 2,347.92 and a low of 2,267.16.

The component A- and B-share index closed 13.51 points or 0.27 pct lower at 4,831.94 on turnover of 11.42 bln yuan after trading to a high of 4,852.17 and a low of 4,820.40.

Shenzhen Development Bank shed 0.18 yuan to 15.55 on 5.8 mln shares.

Yangzi Petrochemical declined 0.06 yuan to 5.9 on 4.7 mln shares.

Fujian Jiuzhou dropped 0.08 yuan to 6.97 on 4.5 mln shares, while Monkey King declined 0.32 yuan to 7.73 on 3.9 mln shares.

Panzhihua New Steel shed 0.1 yuan to 7.83 on 3.3 mln shares, while Beijing Shougang dropped 0.07 yuan to 10.23 on 3.2 mln shares and Angang New Steel declined 0.02 yuan to 4.59 on 3.6 mln shares.

China Baoan fell 0.08 yuan to 7.3 on 3.7 mln shares.

Among B-shares, China Southern Glass rose 0.54 hkd to 10.88 on 17.7 mln shares, while China Bicycle gained 0.31 hkd to 6.43 on 7.8 mln shares.

Bengang Steel Plates rose 0.02 hkd to 5.5 on 16.1 mln shares.

Guangdong Electric Power was up 0.12 hkd to 7.4 on 15 mln shares.

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