August 8, 2014 / 7:11 AM / 3 years ago

Slim rises for China shares produce 4th straight weekly gains

HONG KONG, Aug 8 (Reuters) - China shares produced their fourth straight weekly gain, thanks to a small advance on Friday rooted in stronger-than-expected Chinese exports in July.

Late on Friday, weaker metal and property counters trimmed rises on the trade news, but the Shanghai Composite Index ended up 0.3 percent at 2,194.42 points. The benchmark index rose 0.4 percent this week.

The CSI300 of the leading Shanghai and Shenzhen A-share listings inched up 0.2 percent on the day and 0.1 percent on the week.

Property developers underperformed even though more than half of China’s cities have relaxed housing controls and analysts say more likely will follow.

Poly Real Estate sank 2.4 percent and China Vanke 0.8 percent on Friday.

Companies involved in rare earth production fell after China lost an appeal at the World Trade Organization in a case brought by the United States, the European Union and Japan to challenge China’s restrictions on exports of rare earths.

Aluminum Corp of China dived 5.1 percent and Inner Mongolia Baotou Steel Rare-Earth Group Hi-Tech lost 1.4 percent. (Reporting by Grace Li; Editing by Richard Borsuk)

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