China shares nearly flat, investors pocket gains from finance stocks

BEIJING, April 14 Mon Apr 14, 2014 3:13am EDT

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BEIJING, April 14 (Reuters) - China shares were nearly flat on Monday as investors locked in profits after last week's announcement that Hong Kong and China investors will be able to buy shares in companies listed on each other's bourses.

Financial stocks, among the biggest beneficiaries of that announcement, pulled back with the CSI300 financial subindex shedding 0.6 percent.

The Shanghai Composite Index ended up 0.1 percent at 2,131.53 points. The CSI300 index of the leading Shanghai and Shenzhen A-share listings fell 0.1 percent.

Some auto stocks outperformed with Chongqing Changan Auto jumping 10 percent, its daily trading limit, after the company reported robust earnings for 2013 and predicted strong net profit growth in the first quarter of this year.

Great Wall Motor Co Ltd gained 4.4 percent after the firm published encouraging sales data for March earlier in the month. (Reporting By Natalie Thomas; Editing bh Chris Gallagher)

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