September 28, 2017 / 7:12 AM / a year ago

China stocks calm ahead of long holiday as investors await Q3 data

SHANGHAI, Sept 28 (Reuters) - China stocks were little changed on Thursday as many investors took to the sidelines as they awaited third quarter economic data and counted down to a week-long National Day holiday starting on Sunday.

Traders were cautious amid emerging signs of fading economic momentum after a robust first half, though most analysts expect the economy will remain resilient in the short run thanks to a construction boom.

The blue-chip CSI300 index was unchanged at 3,822.54, while the Shanghai Composite Index was down 0.2 percent at 3,339.64 points.

Mixed August data have raised concerns that China economic recovery could be losing steam, so changes in trading strategies could be on the cards once investors have assessed third-quarter data over coming weeks.

Sector performance was mixed.

Energy, property and financial shares weakened but consumer shares continued to rise sharply, on bets that the long holiday will stimulate entertainment activities and shopping.

Those wagers were played out in stocks such as Kweichow Moutai Co Ltd, a maker of Chinese spirits, which rose nearly 2 percent to a record high of 508 yuan apiece. (Reporting by Luoyan Liu and John Ruwitch; Editing by Shri Navaratnam)

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