China stocks retreat on profit-taking

The benchmark Shanghai Composite Index went down 0.55 percent, or 11.55 points, to finish at 2,098.40. The Shenzhen Component Index lost 0.57 percent, or 44.97 points, to close at 7,857.11. Combined turnover on the two bourses expanded to 302.16 billion yuan (49.82 billion U.S. dollars) from 280 billion yuan on the previous trading day. The ChiNext Index, a NASDAQ-style board tracking China's growth enterprises, lost 3.56 percent, or 54.83 points, to end at 1,485.13 points. Shares related to furniture, media and entertainment, and petroleum saw the worst performance, with sub-indices tracking the sectors down 5.24 percent, 4.37 percent and 3.69 percent respectively. Zhejiang Daily Media Group plunged 6.31 percent to 39.34 yuan per share. Beijing Enlight Media plummeted 6.26 percent and Huayi Brothers Media Corp.edged down 5.21 percent. Bucking the trend, new energy vehicle stocks rose as the country has included 12 more cities in a program to advance the use of environmentally friendly cars, bringing the total number of participating cities and regions to 40. BYD gained 8.26 percent to 49 yuan per share and Zhongtong Bus Holding rose 8.87 percent to 13.13 yuan per share.