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Commodity producers fuel mainland stock losses
The Standard --03-03-2009
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Mainland stocks fell, led by commodity producers, on concern the global recession will sap demand for resources from manufacturers.
PetroChina, the nation's largest oil producer, and Jiangxi Copper slid more than 2 percent as oil and metals prices declined. Zhongjin Gold dropped 6.2 percent as gold retreated for a sixth day.
The benchmark Shanghai Composite Index dropped 2.4 percent to 2,043.94, paring this year's gains to 12 percent. About 13 stocks retreated for each that advanced, with all five industry groups declining.
The CSI 300 Index, which tracks shares on both the Shanghai and Shenzhen stock exchanges, slid 2.7 percent.
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