Stocks little changed ahead of key meeting

Chinese mainland’s stocks ended little changed on Tuesday as investors awaited key economic data and a key meeting, though resources firms posted losses on concerns the sector’s recent rally may be over.

The blue-chip CSI300 index was unchanged at 3,913.07 points, while the Shanghai Composite Index lost 0.19 percent to 3,372.04 points.

For the day, most sectors were little changed although resource firms dragged, with the materials industry losing 1 percent, reflecting market views that the sector’s 30 percent surge this year has run its course.

Blue-chip sectors such as financials and utilities held steady.

Chinese authorities are keen to see stability in financial markets heading into the key meeting starting on Wednesday.

The central bank injected 190 billion yuan ($28.73 billion) into the interbank market, a move apparently aimed at easing liquidity concerns after China’s benchmark 10-year treasury yield climbed above 3.7 percent on Monday to its highest level this year.

Markets are also awaiting third-quarter GDP data on Thursday and will be closely watching for any signs of a long-expected slowdown after a strong first half.

UBS strategist Gao Ting also cited the prospects of high interest rates and governmentmandated cuts in industrial production as risks to growth, advising investors in A-shares to stay balanced between cyclicals and defensive stocks.