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Shanghai: Stocks end at lowest in a month

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China stocks closed at their lowest in a month on Monday, as investors sold on fears that rising real estate prices will cannibalise funds from shares, aggravated by disappointing earnings by small-cap growth stocks on the ChiNext index.

[SHANGHAI] China stocks closed at their lowest in a month on Monday, as investors sold on fears that rising real estate prices will cannibalise funds from shares, aggravated by disappointing earnings by small-cap growth stocks on the ChiNext index.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 2.4 per cent, to 2,877.47, while the Shanghai Composite Index lost 2.9 per cent, to 2,687.98 points.

During the day both indexes pressed against support levels they found in January after a sharp crash, but late afternoon buying held the line.

REUTERS

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