May 5, 2014 / 7:10 AM / in 4 years

China shares stay soft as weak manufacturing disappoints

BEIJING, May 5 (Reuters) - China shares ended mixed on Monday, with weak manufacturing activity weighing on sentiment in a session that saw weakness in property while rail infrastructure shares gained.

The Shanghai Composite Index ended up 0.1 percent at 2,027.35 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings lost 0.1 percent.

The HSBC/Markit purchasing managers’ index (PMI) for April came in at 48.1 on Monday, lower than a preliminary reading of 48.3, though up slightly from an eight-month low of 48.0 in March.

The results dragged the indexes deeper into negative territory at midday, before they clawed back some ground in the afternoon.

Property stocks were down after private comments made by a top executive from the mainland’s largest listed developer showing scant optimism for the health of the sector were leaked to the press over the holiday weekend.

But rail shares gained on reports last week that the country’s 2014 railway investment would be increased to 800 billion yuan ($128 billion) from 720 billion yuan. (Reporting By Natalie Thomas; Editing by Jacqueline Wong)

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