Shares end flat, property falls
China's main stock index closed little changed Thursday, as gains in machinery makers were offset by weakness in property shares which came under pressure after Beijing announced more rules to restrict speculative home buying.
Analysts said the index should face a technical correction in the near term as it has risen around 10 percent over the past 10 sessions. "In the short term, the index has little room to fall or rise," said Zhang Gang, a senior analyst at Central Securities in Shanghai.
The benchmark Shanghai Composite Index closed at 2,927 points, while the sub-index of property sector dropped 1.7 percent. China Vanke, the country's largest developer by sales, fell 1.9 percent, while Poly Real Estate Group Co was down 2.6 percent.
Source: Global Times
Analysts said the index should face a technical correction in the near term as it has risen around 10 percent over the past 10 sessions. "In the short term, the index has little room to fall or rise," said Zhang Gang, a senior analyst at Central Securities in Shanghai.
The benchmark Shanghai Composite Index closed at 2,927 points, while the sub-index of property sector dropped 1.7 percent. China Vanke, the country's largest developer by sales, fell 1.9 percent, while Poly Real Estate Group Co was down 2.6 percent.
Source: Global Times
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