China shares down on coal, losses limited by property, PetroChina

BEIJING Tue May 13, 2014 3:08am EDT

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BEIJING May 13 (Reuters) - China shares closed down slightly on Tuesday, as investors locked in some of the previous day's strong gains following news of deepening capital reforms, though property continued to perform strongly.

The Shanghai Composite Index ended down 0.1 percent at 2,050.73 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings declined 0.2 percent.

The CSI property sub-index gained a further 1.4 percent after breaking its eight-day losing streak on Monday.

Coal shares gave back much of Monday's gains, dragging the CSI energy sub-index down 0.6 percent. Panjiang Coal declined 4.0 percent, while Tianan Coal lost 3.4 percent.

But state energy giant PetroChina Co Ltd gained 0.8 percent after the firm said it would sell more pipeline projects as part of efforts to streamline the company and cut back on capital investment. (Reporting by Natalie Thomas; Editing by Jacqueline Wong)

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