Stock mixed as investors eye looming holiday

After a day of up-again-down-again trading, stock markets on the Chinese mainland closed on opposite sides of the break-even point Wednesday as trading volume contracted ahead of the upcoming Chinese New Year holiday.

The benchmark Shanghai Composite Index added 0.06 percent, or 1.35 points, to close at 2,434.48 points; while the Shenzhen Component Index lost 0.23 percent, or 23.26 points, to finish at 9,922.72 points.

With only two days left before the start of the Spring Festival holiday, which is set to close the country's stock markets next week, trading was relatively thin Wednesday as investors switched to a more cautious stance due to uncertainties about what the post-holiday market would bring.

The Shanghai Composite opened lower Wednesday and fluctuated within a limited range throughout the day. The index managed to end above par for its eight straight trading day as gains by brokerages, biological and software stocks offset losses in the property, coal and railway construction sectors.

Securities companies were among the day's biggest winners. GF Securities Co jumped 5.33 percent to 16.59 yuan ($2.66)； Haitong Securities Co rose 3.49 percent to 12.75 yuan.

On the downside, coal producers underperformed following Tuesday's gains. Shanxi Coal International Energy Group Co declined 3.16 percent to 22.08 yuan, while Heilongjiang Heihua Co dropped 2.73 percent to 7.13 yuan.

The property sector was also one of Wednesday's worst performers thanks to speculation that the central government may introduce stricter controls to the housing market after home prices climbed again across the country last month. China Vanke Co lost 1.38 percent to 12.16 yuan.