Shares mixed, M&A hopes boost airlines

Mainland stocks closed mixed in light trade yesterday. Airlines soared on speculation about possible merger activity in the industry, while coal shares sagged after coal miners failed to agree with power producers on next year's annual supply contracts.

The Shanghai Composite Index spent most of the day lower but ended down just 0.06 percent at 1850.48 points, posting its sixth straight day of losses.

Turnover in Shanghai A shares was small at 37 billion yuan against Friday's 34.8 billion yuan.