An investor checks share movements on an electronic stock board, October 23, 2006. Chinese shares ended down 1.73 per cent yesterday. [Xinhua]

The Shanghai composite index finished at 1,759.394 points. The fall came after the index hit an intra-day peak of 1,801.334 points, its highest level since September 2001.

Turnover in Shanghai A shares was a moderately active 24.3 billion yuan (US$3.1 billion), versus 23.3 billion yuan (US$2.95 billion) on Friday.

The index would have fallen further if not for the rise in Sinopec, which jumped to 5.63 yuan (71 US cents), the highest closing level since it resumed trading on October 10 after reform of its State shareholding structure. Turnover was more than double last week's levels.

Sinopec's share price plunged over 21 per cent on the first day it resumed trading after the company compensated its A-shareholders with 2.8 bonus shares for every 10 shares held.

(For more biz stories, please visit Industry Updates)