China shares fall with losses led by auto and property

HONG KONG, July 17 Thu Jul 17, 2014 3:06am EDT

HONG KONG, July 17 (Reuters) - China shares declined on Thursday as investors moved out of recent outperforming blue chips to keep money aside for new initial public offerings, with property developers and carmakers leading losses.

The Shanghai Composite Index ended down 0.6 percent at 2,055.59 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings also fell 0.6 percent.

Property developers were broadly weaker ahead of the release of June home price data on Friday. China Vanke shed 1 percent and Poly Real Estate 0.2 percent.

SAIC Motor sank 2.4 percent, after lingering around its 7-month high for three days.

PetroChina slipped 0.4 percent, the biggest index drag in Shanghai. A report on Caixin magazine's website late on Wednesday, citing unnamed sources, said two executives from PetroChina's overseas operations had been detained. (Reporting by Grace Li; Editing by Jacqueline Wong)