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China shares slip ahead

Tuesday, August 12 08:12:29

China shares edged lower on Tuesday, as cautious investors awaited more July data for fresh clues on how well the world's second largest economy is faring.

The Shanghai Composite Index slipped 0.1 percent from its eight-month closing high on Monday and ended at 2,221.59 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings eased 0.4 percent.

Yonghui Superstores was the top index boost in Shanghai, soaring the maximum allowed 10 percent on a share-purchase plan by a unit of Dairy Farm International Holdings Ltd.

Tech shares outperformed, as analysts said some investors are going back to growth stocks in search of higher returns.

Beijing Teamsun Technology jumped the daily limit of 10 percent and Yonyou Software 6.1 percent, lifted by expanding efforts by the Chinese government to limit use of foreign technology.

China is due to release urban investment, industrial output and retail sales figures on Wednesday, while data on monthly money supply and loan growth will also come out this week. (Reuters)

For more visit: www.businessworld.ie