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Helped by property sector strength, China stocks edge up

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China stocks edged up on Wednesday, aided by a second day of gains for property shares and growing expectations of state-owned enterprise (SOE) reforms.

But the trading volume in Shanghai shrank to a two-month low amid signs that investors are turning their focus to gold and bonds.

China’s blue-chip CSI300 index rose 0.1 per cent, to 3,193.51, while the Shanghai Composite Index gained 0.2 per cent to 2,978.46 points.

Lingering concerns over China’s economy continued to haunt investors. A private survey showed on Wednesday that growth in the services sector cooled in July, with weaker expansions in activity prompting companies to shed staff for the first time in four months.

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Paul

The author Paul