Markets mixed, auto shares ahead

Mainland stock markets parted ways Wednesday as topical sector gains helped the Shanghai Composite Index ride out its fourth straight day in positive territory.

The Shanghai Composite ended at 2,324.02 after tacking on 2.70 points, or 0.12 percent; while the Shenzhen Component settled at 9,404.40 after declining 37.29 points, or 0.39 percent, on the day.

Lithium battery, automobile, logistics, aerospace and military shares performed particularly well Wednesday and their upswings were credited with keeping the Shanghai benchmark above water.

Among the car companies and lithium battery makers that pulled ahead, both Hunan Corun New Energy Co and Wanxiang Qianchao Co attained the 10-percent daily limit to close at 29.68 yuan ($4.84) and 6.77 yuan respectively.

Meanwhile, property stocks were a mixed bag after the China Securities Journal reported Wednesday that the government may expand its pilot property tax program to more cities. CRED Holding Co and Deluxe Family Co both hit the daily limit to close at 8.99 yuan and 6.82 yuan respectively. Shenzhen WorldUnion Properties Consultancy Co fell 3.61 percent to close at 11.23 yuan.

Logistics shares got a major boost after e-commerce giant Alibaba Group Holding Ltd announced late Tuesday that it would establish a nationwide logistics network capable of performing deliveries 24 hours a day. CMST Development Stock Co, a company engaged in logistics and trading, shot to the daily limit to end at 8.12 yuan.

In the securities sector, Hong Yuan Securities Co declined 2.44 percent to 24.74 yuan.