Shanghai Market Edges Down; Gold Stocks Buck Trend — Market Talk

0828 GMT [Dow Jones] The Shanghai market reversed earlier gains on Wednesday, after having rallied to a two-week high the previous session. The benchmark Shanghai Composite Index closed down 0.2% at 3018.75. Resource names led the top gainers, with Shandong Gold Mining Co. closing up 5.9%. Relatively new stocks, such as the Bank of Jiangsu, also performed strongly Wednesday. “Although there’s increasing regulatory scrutiny over these [newly listed stocks], it’s difficult to alter the speculative nature overnight,” says Deng Wenyuan, an analyst at Soochow Securities. The Shenzhen Composite Index finished down 0.3% at 1976.16 and the Nasdaq-style ChiNext board lost 0.8% at 2137.00. (yifan.xie[a]wsj.com)

 
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