China stocks close lower

GMT 13:19 2014 Tuesday ,12 August

Arab Today, arab today China stocks close lower

China stocks close
Beijing - XINHUA

Chinese shares closed lower on Tuesday following substantial gains the previous trading day, while investors remained cautious ahead of the release of more official data for July.
The benchmark Shanghai Composite Index fell 0.14 percent to end at 2,221.59 points. The Shenzhen Component Index shed 0.53 percent to close at 7,966.89 points.
Total turnover on the two bourses expanded to 291.29 billion yuan (47.35 billion U.S. dollars) from 279.8 billion yuan the previous trading day.
Official data on Monday evening showed the growth of China's fiscal revenue and that of spending both decelerated in July, which could complicate the government's efforts to stabilize the slowing economy and revamp its fiscal system.
More data for July, on areas including industrial output, retail sales and fixed asset investment, is scheduled to be released on Wednesday, which analysts expect will provide more clues as to the health of China's economy.
Meanwhile, the ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, ended 0.1 percent lower at 1,396.44 points after climbing 1.48 percent on Monday.
Heavyweights including the coal and the financial sector led Tuesday's declines, down 0.56 percent and 0.55 percent, respectively.

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