By staff reporter Wang Zhen

From Caijing Online

The Shanghai Composite Index finished Thursday’s trading session at 2248, down 0.56 percent from Wednesday’s close, on diminished trading volume of 142 billion yuan. The Shenzhen index closed at 8318, up a mere 0.35 percent.

As crude oil prices declined on the international market to around US$ 35 a barrel Wednesday, Chinese investor outlooks were especially divided over oil stocks.

Three of the nation’s largest oil stocks lost ground, as PetroChina (SSE: 601857) fell 1.2 percent to close at 11.47 yuan a share, Sinopec (SSE: 600028) retreated 2.2 percent to 8.59 yuan, and CNOOC (SSE: 601808) lost 3.74 percent to finish at 13.91 yuan.

Meanwhile, most real estate stocks gained on news that property sales soared recently, during the first week after the Chinese New Year holiday. Poly Real Estate (SSE: 600048) gained 3 percent to close at 18.54 yuan, while Merchants Real Estate advanced 3.5 percent to 17.17 yuan.

Financial stocks retreated, led by bank stocks. Auto stocks gained ground as nationwide sales were expected to regain momentum in February following a government decision to reduce sales taxes.

Thursday’s activity was subdued compared with Wednesday’s frenzy, when the trading volume in Shanghai reached a record high.

1 yuan = 14 U.S. cents