The Shanghai Composite Index ended low today. The real estate board led the drop as it was impacted by word of reforms to the real estate tax system. There was also profit-taking in the financial board, which led the index to fall nearly 2 percent during the trading day. It rebounded gradually, close to the end, narrowing the range of the index drop.

Analysts pointed out that although the market adjusted, affected by the unsatisfactory performance of weighted stocks, the Shanghai Composite Index was still shaking in high-order positions today. It is not ruled out that there’s room for continuous upward motion in the future.

The Shanghai Composite Index ended with 2,309.50 points, down by 16.18 points or 0.7 percent. It fell to 2,279.51 at its lowest during the day. The index ended at a seven and a half month’s high yesterday. The trading volume was 132.7 billion yuan, while yesterday’s trading volume was 140.6 billion yuan, reaching the ten-month high.

“Real estate tax, which was negative news to the market, brought fairly great pressure to the real estate board.  The financial board in the short term needed adjustments as well,” said Wen Lijun, analyst at Nanjing Securities, “Nevertheless, the Shanghai Composite Index is still in way of rebound. It’s still hard to judge if it has reached the top. There might be peaks with the index wavering in wide ranges in the short-term.”

The Shenzhen Component Index ended 9,237.30 points, dropping 1.55 percent, with the trading volume of 85 billion yuan.