Markets see mixed performance

Stock markets in the Chinese mainland saw mixed performance Wednesday, with the trading volume in Shanghai falling to a five-month low.

The benchmark Shanghai Composite Index slid for a seventh consecutive day on Wednesday, declining by 2.79 points or 0.13 percent to 2,148.28 points. The Shenzhen Component Index rose by 23.52 points or 0.29 percent to 8,236.95 points.

Combined turnover on the two bourses on Wednesday was 130.2 billion yuan ($21.44 billion), decreasing from Tuesday's 151.12 billion yuan.

Subdued trading volume in the stock markets coincided with a surge in China's interbank lending rates on Wednesday due to concerns over tightened funding conditions.

The People's Bank of China has refrained from injecting cash into the market for two consecutive weeks.

The US plans to phase out incandescent light bulbs, with a ban on sales of 60-watt and 40-watt incandescent bulbs set to start on January 1, boosting energy-saving light bulb firms.

Shenzhen Changfang Light Emitting Diode Lighting Co and Xiamen Changelight Co jumped by the daily limit of 10 percent to 7.97 yuan and 11.11 yuan, respectively.

There have been increasing reports of bird flu in China this week, boosting firms linked with remedies for the disease. Guilin Layn Natural Ingredients Corp soared by 10 percent to 17.46 yuan while Shandong Lukang Pharmaceutical Co rose 4.02 percent to 5.44 yuan.

Media and entertainment stocks led the decline on Wednesday. Beijing-based media production firm Huayi Brothers Media Corp plummeted by 10 percent to 30.78 yuan on Wednesday while Beijing Enlight Media Co slid by 6.15 percent to 36.92 yuan.

Companies linked to wearable technology retreated on Wednesday, with Shenzhen Fenda Technology Co declining by the daily limit of 10 percent to 56.12 yuan.

Shares with high dividends saw a big drop on Wednesday, with Shandong Tongda Island New Materials Co declining by 10 percent to 35.00 yuan.

ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, slipped by 0.92 percent to 1,256.00 points.