Chinese shares close little changed; Third Plenum eyed
Shanghai Composite up 0.03% at 2,971 points (Il Sole 24 Ore Radiocor) - Shanghai , 12 Jul - Chinese shares closed little changed after yesterday's gains amid mixed Asian markets.
In mainland stock market dealings financials and real estate shares rose, while consumer staples and healthcare stocks dipped.
Investors digested data showing that China's imports dropped in June, missing expectations for slight growth, while exports grew more than expected.
In June, China's trade surplus widened to 99.5 billion dollars from 82.6 billion in May on higher exports and lower imports, according to the customs office. Exports rose 8.6% year on year, after rising 7.6% in May. Imports fell 2.3% after rising 1.8%. Economists surveyed by Bloomberg were expecting a 2.5% rise in June.
Traders looked ahead to a meeting of China's political leaders from July 15 to 18 known as the Third Plenum, amid expectations that important economic measures could be announced during the event.
The much-anticipated policy meeting, a major gathering of the top members of the ruling Communist Party of China that typically happens only once every five years, is expected to focus on high local government debt levels and a push for advanced manufacturing.
The Shanghai Composite closed up 0.03% at 2,971 points, while the Shenzhen CSI 300 rose 0.12% to 3,472 points.
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(RADIOCOR) 12-07-24 11:28:56 (0239) 5 NNNN