China stocks drift; property shares surge amid Vanke excitement

viernes 5 de agosto de 2016 03:23 GYT
 

SHANGHAI Aug 5 (Reuters) - China stocks were little changed on Friday and ended the week roughly flat as worries about the economy and regulators' crackdown on speculation kept many investors on the sidelines.

The blue-chip CSI300 index rose 0.1 percent, to 3,205.11, while the Shanghai Composite Index dipped 0.2 percent to 2,976.70 points.

Turnover has been thin recently, as regulators have tightened supervision over speculative trading, while risk appetites have been curbed by few signs of economic recovery and questions about the extent of further stimulus.

The real estate sector was in the spotlight on Friday, rising nearly 3 percent as a high-profile battle for control of Chinese developer Vanke saw another twist.

Vanke shares surged 6.5 percent in Shenzhen after announcements that rival China Evergrande Group had bought a nearly 5 percent stake.

The news stirred interest in real estate stocks.

China Calxon Group, majority owned by Evergrande, surged 10 percent.

(Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)