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China shares end flat as PMI, loan-rule change fail to excite market
July 1, 2014 / 7:10 AM / in 3 years

China shares end flat as PMI, loan-rule change fail to excite market

SHANGHAI, July 1 (Reuters) - China’s main stock indexes ended flat on Tuesday, as targeted stimulus measures and upbeat purchasing managers’ index (PMI) data failed to boost investors’ appetites.

The benchmark Shanghai Composite Index closed at 2,050.38 points, up 0.1 percent. The CSI300 tracking the leading Shanghai and Shenzhen A-share listings closed flat at 2,164.55 points.

The release of positive official PMI data for June did not have a big impact on the stock index. Analysts said the figure was expected to be good following the earlier release of an upbeat HSBC/Markit PMI for June.

Similarly, the governmental investment in transportation projects did not spark a rise in railway shares.

Finance shares rose initially due to a modest stimulus measure announced by the China Banking Regulatory Commission late on Monday, but then slipped.

Analysts said this stemmed from how new rules on banks’ loan-to-deposit ratios were not big enough to spur buying. (Reporting by the Shanghai Newsroom)

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