China stocks slide as interest shifts to Hong Kong shares
SHANGHAI, April 9 (Reuters) - China stocks lost ground on Thursday, as mainland investors rushed to buy relatively cheaper Hong Kong shares, but some key sectors such as property found support from bargain hunters.
Chinese investors snapped up the entire 10.5 billion yuan ($1.7 billion) daily investment quota for buying Hong Kong stocks under the Shanghai-Hong Kong Stock Connect scheme in afternoon trading, the second consecutive day the quota was used up.
Trading was volatile, especially for Shenzhen's Nasdaq-style ChiNext board, which slumped as much as 5.7 percent but struggled to reverse losses to end the session flat.
The only bright spot was the real estate sub-index , which surged nearly 6 percent on signs that the property market is bottoming out.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen lost 0.8 percent, while the Shanghai Composite Index fell 0.9 percent. (Reporting by Samuel Shen and Pete Sweeney; Editing by Jacqueline Wong)
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