BEIJING: China shares were subdued on Thursday, largely giving up early losses, as gains in real estate firms and banks helped offset declines in industrial firms after weak factory data.
At the close, the Shanghai Composite index was down 0.07% at 3,588.78, while blue-chip CSI300 index was up 0.11% after falling as much as 0.62% earlier.
Among the worst-performing sectors, the industrial sub-index dropped 1.53% and the energy sub-index lost 0.74%.
The smaller Shenzhen index ended down 0.83% and the start-up board ChiNext Composite index was weaker by 0.63%.
In a bright spot, the real estate sector and banking sector rose by 4.32% and 1.96%, respectively and lifted blue-chip shares.
Investors remained wary on lofty valuations of certain sectors.
Hong Kong’s stock market is closed on Thursday for the Hong Kong Special Administrative Region Establishment Day.
“The fundamentals of the new energy auto makers and supply chain companies are strong, but investors including us have some valuation concerns,” said Wang Qi, CEO at MegaTrust Investment (HK).—Reuters
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