0336 GMT [Dow Jones] China shares fall more at the midday break, led by declines in the resource sector on the back of weaker global commodity prices, while financial stocks continue to drop on profit-taking, analysts say. The Shanghai Composite Index is down 2.7% at 2331.61, with analysts putting immediate support at 2300. "The market may have run out of steam as the latest data showed that equity funds' positions have risen to 89%, a relatively high level, indicating that fund managers may be short of ammunition," says Industrial Securities analyst Jiang Shiqin. Among actives, China Shenhua Energy (601088.SH) tumbles 4.8% to CNY22.86 and Jiangxi Copper (600362.SH) slides 7.0% to CNY24.05. Financial plays Citic Securities (600030.SH) drops 3.6% to CNY14.16 and China Minsheng Banking Corp. (600016.SH) falls 5.0% to CNY9.87. The Shenzhen Composite Index is 2.0% lower at 950.32. (amy.li@dowjones.com)
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(END) Dow Jones Newswires
February 20, 2013 22:51 ET (03:51 GMT)
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