Tech and metal counters lead Shanghai index down

SHANGHAI'S key stock index dropped for the fourth day, led by high tech firms and metal producers, while property producers outperformed. The benchmark Shanghai Composite Index lost 0.88 percent to 2,619.62 points. Turnover fell to 34.5 billion yuan (US$5.3 billion). Metal producers declined as metal prices on the London market dropped to the US$9,000 level. Jiangxi Copper Co lost 0.4 percent to 32.42 yuan. Yunnan Copper Co shed 1 percent to 20.22 yuan. Property developers rose after China's top statistics bureau said that home prices in 50 of the 70 major cities continued to rise in May from April. China Vanke Co rose 1.1 percent to 8.14 yuan. Gemdale Corp added 1.2 percent to 6.14 yuan. Information technology firms led the decliners. Fujian Newland Computer Co shed 3.3 percent to 13.83 yuan. Fiberhome Telecommunications Technologies Co slid 8.4 percent to 23.60 yuan.

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