April 24, 2014 / 7:21 AM / 4 years ago

China shares slip, Shanghai FTZ firms hit by profit-taking

BEIJING, April 24 (Reuters) - China shares slipped on Thursday as Shanghai free trade zone-linked companies faced more profit-taking following their strong gains earlier in the week, while rises in property stocks helped limit some of the decline.

The Shanghai Composite Index ended down 0.5 percent at 2,057.03 points. The CSI300 index of the leading Shanghai and Shenzhen A-share listings shed 0.2 percent.

Shanghai free trade zone firms continued to pull back, with Shanghai Waigaoqiao Free Trade Zone Development Co Ltd falling 3.8 percent and Shanghai Lujiazui Finance and Trade Zone Development Co Ltd down 5 percent.

Property stocks climbed after Chinese media reported a former official as saying that the government would act cautiously to try and deflate the country’s property bubble and that house purchase restrictions may soon be relaxed. The CSI real estate subindex rose 1.7 percent. (Reporting By Natalie Thomas; Editing by Chris Gallagher)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below