SHANGHAI, Aug. 14 -- Shanghai stocks barely moved in the morning session as the bank sector led the decline on valuation concerns.

The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, shed 0.13 percent, or 6.42 points, to 4,813.65 at 11:30am.

The Shenzhen Composite Index, which covers the smaller mainland stock market, gained 0.73 percent, or 9.57 points, to 1,316.81.

Industrial and Commercial Bank of China, the country's biggest listed lender, lost 2.11 percent to 6.95 yuan (92 US cents) per share and Bank of China dropped 2.54 percent to 6.15 yuan.

Shanghai Pudong Development Bank inched up 0.05 percent to 44.02 yuan and Bank of Nanjing rose 0.22 percent to 22.29 yuan.

Baoshan Iron & Steel Co, the country's biggest steel maker, lost 1.65 percent to 15.45 yuan and Wuhan Iron & Steel Co dropped 2.58 percent to 13.97 yuan.

Hangxiao Steel Structure Co rose 3.77 percent to 19.84 yuan.

China Vanke, the country's biggest listed developer, lost 3.11 percent to 32.10 yuan on concern that recent gains were excessive and Poly Real Estate Group Co dropped two percent to 71.05 yuan.

Citic Securities, China's biggest publicly traded brokerage, jumped 3.96 percent to 79.02 yuan. The company is scheduled to release its first-half earnings after today's market close. It said last month that the net income may jump by more than 500 percent in the first six months of this year.