China stocks end down on profit-taking after stock connect launch

martes 18 de noviembre de 2014 03:10 GYT
 

SHANGHAI Nov 18 (Reuters) - China stocks ended lower on Tuesday as investors took profits in shares that rose sharply ahead of Monday's launch of the landmark Hong Kong-Shanghai trading link.

The Shanghai Composite Index ended down 0.7 percent at 2,457.5 points, while the CSI300 index of the largest listed companies in Shanghai and Shenzhen eased 1.0 percent.

Trading was much slower on Tuesday than the previous day, with only 37 percent of the daily 13 billion yuan ($2.12 billion) "northbound" quota - which limits how much Hong Kong-based investors can buy in Shanghai - being been used, and around 5 percent of the 10.5 billion yuan "southbound" quota taken up.

The top gainers that reportedly drew most northbound investment on Monday - Daqin Railway Co, Kweichow Moutai Co, SAIC Motor, Ping An Insurance and Inner Mongolia Yili Industrial Group Co - succumbed to profit-taking on Tuesday.

($1 = 6.1214 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Jacqueline Wong)