Shanghai Composite up 0.17% at 2,982 points (Il Sole 24 Ore Radiocor) - Shanghai , 19 Jul - Chinese shares closed lower amid weak Asian markets as concerns over trade tensions with the US and dismal results from the Third Plenum weighed on investor sentiment.

Investors were disappointed by the lack of details on implementation steps to achieve economic policy goals at the end of the closely monitored policy meeting, a major gathering of the top members of the ruling Communist Party of China usually held every five years.

After four days of closed-door meetings chaired by President Xi Jinping, officials made a series of seemingly contradictory promises, from modernizing industrial parks while expanding domestic demand to stimulating growth while curbing debt risks.

Lingering concerns about further US restrictions on chip sales to China continued to keep sentiment in check after Bloomberg reported that the US is considering slapping stricter trade restrictions on companies supplying chip technology to the country.

Increased speculation over a second term for Donald Trump also weighed on Chinese stocks. In his first presidential term from 2017 to 2021, Trump had slapped steep tariffs on China, fuelling a prolonged trade war between the world's two major economies. CSI 300 Real Estate Index fell more than 2% as weakness in the property sector continued to weigh on China's economic growth outlook.

The Shanghai Composite closed up 0.17% at 2,982 points, while the Shenzhen CSI 300 rose 0.51% to 3,539 points.

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(RADIOCOR) 19-07-24 11:43:02 (0232) 5 NNNN