China shares post 4th straight loss, Sinopec sinks again

HONG KONG Tue Nov 26, 2013 2:06am EST

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HONG KONG Nov 26 (Reuters) - Shanghai shares of Chinese energy giant Sinopec Corp sank to a more than one-week low on Tuesday after police detained nine people in connection with the blast on its Qingdao oil pipelines, pushing benchmark indexes in China to another loss.

The CSI300 of the leading Shanghai and Shenzhen A-share listings ended a choppy session down 0.1 percent at 2,387.4 points in a fourth-straight daily loss. The Shanghai Composite Index also slipped 0.1 percent.

Heavyweight Sinopec sank 2.7 percent to its lowest close since Nov. 14, but strength in companies linked to the Chinese coastal city of Ningbo limited index losses, rallying on hope they will benefit from a free-trade zone covering a nearby island. (Reporting by Clement Tan; Editing by Jacqueline Wong)

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