Connect to share and comment

China stocks down 3.05% on property cooling measures

Chinese shares were down 3.05 percent in early afternoon trade Monday as property stocks were hit by government measures announced last week to control housing prices, dealers said. The benchmark Shanghai Composite Index slid 71.92 points to 2,287.59. Home sellers will have to pay a capital gains tax of 20 percent on their profits, the State Council, or cabinet, said in a statement late Friday. China previously taxed homeowners one to two percent of the sale price.

China shares slip to lowest in more than a week, Moutai dives

HONG KONG, Jan 25 (Reuters) - China shares closed at their lowest in more than a week on Friday, as distiller Kweichow Moutai tumbled 3.5 percent despite reporting a 2012 profit rise of about 50 percent. The CSI300 of the top Shanghai and Shenzhen A-share listings closed down 0.4 percent at 2,571.7. The Shanghai Composite Index shed 0.5 percent. Both closed at their lowest since Jan. 17. This week, they lost 0.9 and 1.1 percent, respectively. (Reporting by Clement Tan; Editing by Sanjeev Miglani)
Syndicate content