China shares up on railway sector, property mixed

martes 6 de mayo de 2014 00:44 GYT
 

* CSI300 +0.6 pct, SSEC +0.5 pct

* Property stocks decline on house price deflation worries

* Rail shares increase on further investment plans

By Natalie Thomas

BEIJING, May 6 (Reuters) - China shares steadied on Tuesday, with gains limited by weakness in the property sector as investors braced for any signs of financial distress among developers as the market cools.

By midday, the CSI300 index of the largest Shanghai and Shenzhen A-share listings was up 0.6 percent, while the Shanghai Composite Index edged 0.5 percent higher to 2,036.83 points.

The CSI300 real estate index continued to underperform, down 0.1 percent by the lunch break, even after Chinese media reported that Tongling in Anhui Province was the fifth city to introduce measures to prop up the property market.

Financial Street Holdings Co Ltd was the biggest drain on the sub-index, down 7.9 percent after the firm said it expected its net profit to decrease between 30 and 50 percent over the first half of 2014.

But other major losers from Monday's deeper sell-off regained ground. China Vanke Co Ltd was up 1.0 percent, while Beijing Urban Construction and Investment Co Ltd gained 1.8 percent.   Continuación...