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Tech, property sell-off leads China shares lower

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China's main stock indexes fell on Tuesday, dragged lower by property and tech shares, as investors took profit from the previous session's more than 1 per cent rally.

[SHANGHAI] China's main stock indexes fell on Tuesday, dragged lower by property and tech shares, as investors took profit from the previous session's more than 1 per cent rally.

The blue-chip CSI300 index fell 0.4 per cent, to 3,218.45, while the Shanghai Composite Index lost 0.3 per cent, to 3,023.65 points.

Chinese Premier Li Keqiang said on Monday that the country's economy has shown more positive signs but downward pressures still persist, vowing to take steps to deal with overcapacity.

Signs of an improving economy have helped fuel a six-month rally in Chinese stocks, but with the main index having rebounded about 14 per cent from its February low, investors are getting cautious.

Mainland stocks fell across the board, led by IT, telecommunications and property shares.

Small caps were also among the biggest decliners, with Shenzhen's start-up board ChiNext falling more than 1 per cent.

REUTERS

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