China: Stock indexes edge up in sluggish trading

[SHANGHAI] China stocks closed marginally higher in sluggish trading on Monday as a lack of fresh market cues kept many investors on the sidelines.

"Share prices moved sideways on a lack of major market-moving news," said Zhang Qi, senior analyst at Haitong Securities in Shanghai. "The trend is likely to continue in coming days."

The CSI300 index edged up 0.2 per cent at 3,230.89 points, while the Shanghai Composite Index inched up 0.1 per cent at 3,015.83 points.

Total volume of A shares traded in Shanghai was 14.4 billion shares, while Shenzhen volume was 19.3 billion shares.

Top listed property developer China Vanke was one of the most actively traded stocks, bouncing 1.8 per cent to 17.7 yuan.

The Shenzhen-listed stock has still plummeted more than 20 per cent since early July, battered by internal shareholding struggles, with the company and its biggest shareholder being investigated by China's securities regulator for rule violations.

REUTERS