China shares close down after survey adds to economy concerns

BEIJING Wed May 7, 2014 3:09am EDT

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BEIJING May 7 (Reuters) - China shares closed down on Wednesday, after a private survey showed that growth in the country's service sector slowed.

The Shanghai Composite Index ended down 0.9 percent at 2010.23 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings also dropped 0.9 percent.

The Markit/HSBC services Purchasing Managers' Index (PMI) slipped to 51.4 in April from March's 51.9, showing there still is growth but the pace of it has dropped, adding to the cloudy outlook for the world's second-largest economy.

An index of mainland property shares fell 0.7 percent, marking a sixth straight day of losses.

Shares of China Railway Construction Corp Ltd rose 2.7 percent to their highest in more than three weeks, after the railway builder said it signed a $13.1 billion deal for a high-speed railway in Nigeria. (Reporting by Natalie Thomas; Editing by Richard Borsuk)

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