Editorial Summary

The Shanghai Composite Index slipped 0.29% to close at 2,837.849, while the Shenzhen Composite Index fell 1.02% to close at 846.1 on Wednesday. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached RMB 64.22 billion and RMB 33.94 billion, respectively. Revenue from the nation's stamp tax totaled RMB 83.7 billion in the first half of 2008, an increase of 34.2% year-on-year, reports Beijing Evening News citing data released by the State Administration of Taxation on Tuesday.

Telecom industry software and wireless value-added services provider Hunan Talkweb Information System Co. Ltd (002261.SZ) began trading on the Shenzhen SME board on Wednesday, reports ChinaVenture. The company raised approximately RMB 300 million through an offering of 20 million shares priced at RMB 15.37, said the report.

Shares of Yongan Forest (000663.SZ), Shengda Forestry Industry (002259.SZ) and Yunnan Jinggu Forestry (600265.SH) soared 10.05%, 10% and 7.98%, respectively, on Wednesday.