HONG KONG, July 31: China shares ended July on a weak note on Wednesday, paring strong early gains led by the property sector as investors cheered comments from China’s politburo that were seen affirming greater official tolerance for home price increases.
The CSI300 of the leading Shanghai and Shenzhen A-share listings ended up 0.2 percent after rising by as much as 2 percent. The Shanghai Composite Index also inched up 0.2 percent to 1,993.8, failing to close above the 2,000-point mark.
On the month, the CSI300 slipped 0.3 percent, while the Shanghai Composite rose 0.7 percent.
Bourse volumes fizzled out after an early spike as investors marked time ahead of the China official manufacturing PMI on Thursday. Shanghai volume were the lowest since June 18.
The official Xinhua news agency reported late on Tuesday that China’s politburo will ‘increase support for the real economy’ and push ‘human-centred’ urbanisation, while promoting the stable and healthy development of the real estate sector.
(AGENCIES)
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