Markets

China stocks close slightly lower, led by weak property

(Xinhua)
Updated: 2010-05-28 16:56

BEIJING: Chinese shares fell at Friday's close as weak property shares eroded earlier gains on reports that Shanghai was mulling to introduce property tax.

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The benchmark Shanghai Composite Index closed down 0.15 points, or 0.01 percent, at 2,655.77 points.

The Shenzhen Component Index lost 0.45 percent, or 47.68 points, to 10,495.65 points.

Total turnover expanded to 187.41 billion yuan ($27.43 billion) from 176.92 billion yuan on the previous trading day.

Gainers outnumbered losers by 518 to 292 in Shanghai and 603 to 305 in Shenzhen.