China stocks give up early gains on fresh economic data

miércoles 11 de marzo de 2015 03:12 GYT

SHANGHAI, March 11 (Reuters) - China stocks surrendered early gains and ended almost flat on Wednesday, as fresh economic data dented investor confidence and put downward pressure on main share indexes.

Data published after the midday trading break showed that growth in China's real estate investment slowed slightly to 10.4 percent in the first two months of 2015 from a year earlier amid a glut of housing supply, underscoring risks to the government's new 7 percent economic growth target.

Meanwhile, China's power generation, a barometer of economic activity, rose just 1.9 percent in the January-February from the same period last year, as weaker industrial growth and a milder winter curbed demand.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.1 percent, to 3,524.65, while the Shanghai Composite Index gained 0.2 percent, to 3,290.90 points, helped by rises in banking stocks.

Among the most active stocks in Shanghai were Bank Of China , up 2.0 percent to 4.01 yuan; Agricultural Bank of China, up 0.6 percent to 3.22 yuan and Industrial Bank, up 2.3 percent to 14.57 yuan.

In Shenzhen, TCL Corp, down 2.3 percent to 5.17 yuan; BOE Technology, down 1.6 percent to 3.12 yuan and Dongxu Optoelec, up 2.3 percent to 10.94 yuan were among the most actively traded.

Total volume of A shares traded in Shanghai was 28.2 billion shares, while Shenzhen volume was 19.3 billion shares. (Reporting by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)