Stocks sink 0.5% as banks, property com­pa­nies weaken

China Daily (Canada) - - BUSINESS -

China’s stocks fell for the first time in three days on Thurs­day as banks and property de­vel­op­ers slumped, over­shad­ow­ing govern­ment mea­sures to sup­port eco­nomic growth. The Shang­hai Com­pos­ite In­dex dropped 0.7 per­cent to 2,043.70 points. The State Coun­cil, China’s cab­i­net, said onWed­nes­day that the na­tion will ex­tend tax breaks to more small com­pa­nies and in­crease fi­nanc­ing to build low-in­come hous­ing. China Vanke Co Ltd, the na­tion’s big­gest listed property de­vel­oper, lost 2.3 per­cent to close at 8.10 yuan ($1.30).

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.