China stocks dip as home price gains slow, clouding economic outlook

lunes 18 de julio de 2016 00:21 GYT

* CSI300 -0.1 pct, SSEC -0.1 pct, HSI +0.2 pct

* China home prices up 7.3 pct y/y but gains ease m/m

* Weakening outlooks weighs on construction shares

* People's Daily article cites weakening housing investment

By Nathaniel Taplin

SHANGHAI, July 18 (Reuters) - China stocks dipped on Monday, weighed down by property and financial shares after data showed gains in home prices were slowing.

Although June home prices still rose 7.3 percent year-on- year, prices edged up only 0.8 percent for the month, slightly weaker than in May, according to Reuters calculations based on data issued by the National Bureau of Statistics (NBS).

The price report followed data on Friday which showed growth in investment in China's real estate sector had slowed in first half of 2016, adding to worries that a construction-led pick-up in the economy may not be sustainable.

The CSI300 index fell 0.1 percent to 3,273.46 points by the end of the morning session, while the Shanghai Composite Index lost 0.1 percent to 3,050.93.   Continuación...