China stocks lower, investors cautious ahead of May credit and economic data

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.3 per cent to 3,178.79, while the Shanghai Composite Index lost 0.2 per cent to 2,934.10 points.

By: Reuters | Shanghai | Updated: June 6, 2016 1:04 pm
Shanghai Composite Index, China, China markets, Shenzhen, Asia markets, Business news, Stock price today, Stock prices, Markets live, Market news, Dow Jones Stocks in China edged lower as investors await a flurry of data in the coming weeks.

Stocks in China edged lower on June 6 as investors await a flurry of data in the coming weeks to assess the health of the economy.

But losses were capped by growing hopes that MSCI will include Chinese shares in its emerging market index in a decision next week, which could spark foreign buying.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.3 per cent to 3,178.79, while the Shanghai Composite Index lost 0.2 per cent to 2,934.10 points.

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“In the coming week, the market will focus on May’s credit and economic data,” wrote Gao Ting, head of China strategy at UBS Securities.

“We believe if the economy can basically stabilise at April’s levels and if there is no sign of significant monetary policy tightening, the market could get some support.”

May data is expected to reinforce views that the world’s second-largest economy is slowly steadying but not gaining momentum as investors had hoped just a few months ago, a Reuters’ poll of economists showed.

Most sectors were down on June 6, with financial and consumer shares leading the decline.

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