China stocks surrender gains as property shares drag
March 28, 2016 9:05 am
Stocks in China surrendered early gains as proper shares dragged down initial optimism triggered by encouraging industrial profit data released over the weekend.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen plummeted 0.9%, to 3,169.73, while the Shanghai Composite Index fell 0.7%, to 2,957.82 points.
In the morning trading, the indexes were firm. However, the equity gauges were dragged lower by property shares in afternoon trade, amid media reports financial regulators in the eastern province of Zhejiang had started to closely scrutinize real estate financing, and warned against financial risks associated with rapid property price rises in cities such as Nanjing and Suzhou.
The material has been provided by InstaForex Company – www.instaforex.com
Stocks in China surrendered early gains as proper shares dragged down initial optimism triggered by encouraging industrial profit data released over the weekend.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen plummeted 0.9%, to 3,169.73, while the Shanghai Composite Index fell 0.7%, to 2,957.82 points.
In the morning trading, the indexes were firm. However, the equity gauges were dragged lower by property shares in afternoon trade, amid media reports financial regulators in the eastern province of Zhejiang had started to closely scrutinize real estate financing, and warned against financial risks associated with rapid property price rises in cities such as Nanjing and Suzhou.
The material has been provided by InstaForex Company – www.instaforex.com
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