China stocks change course, ending 6-day winning streak
SHANGHAI, July 24 (Reuters) - China stocks fell on Friday, snapping a six-day winning streak, as some investors took profit from the market's recent rebound after a disappointing factory activity survey data was released.
A preliminary private survey showed that China's factory sector contracted by the most in 15 months in July as shrinking orders depressed output.
The main share indexes began to head south in late afternoon trading, wiping out early gains. Some investors cut holdings on concern share-prices have rebounded too far relative to the economy's outlook.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 1.8 percent, to 4,176.28, while the Shanghai Composite Index lost 1.3 percent, to 4,070.91 points.
For the week, CSI300 rose 0.6 percent and the Shanghai index was up 2.9 percent.
The market fall was led by tech, infrastructure and financial stocks, but real estate shares rose on signs that property market is recovering in major Chinese cities.
Nearly 2,000 stocks fell while only 401 rose. (Reporting by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)
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