HONG KONG, July 17 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)