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China shares inch down, as beverage falls outweigh property gains
May 14, 2014 / 7:09 AM / 4 years ago

China shares inch down, as beverage falls outweigh property gains

BEIJING, May 14 (Reuters) - China shares ended down slightly on Wednesday, with beverage shares the main source of losses, though these were partially offset by real estate gains rooted in additional support for mortgage lending.

The Shanghai Composite Index ended down 0.1 percent at 2047.91 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings also slipped 0.1 percent.

Real estate stocks made significant gains for a third day, boosted by news on Tuesday that the central bank urged mainland banks to speed up approval of home loans.

Property giants China Vanke Co Ltd and Poly Real Estate Group Co Ltd rose 1.3 percent and 1.6 percent, respectively. The real estate subindex was up 0.9 percent.

But the gains were offset by beverage-sector declines led by Kweichow Moutai Co Ltd, which extended morning losses to close down 3.4 percent on fears of weaker earnings.

Jiangsu Yanghe Brewery Joint-stock Co Ltd shed 2.1 percent as investors locked in profits after a more than 3 percent rise on Tuesday. (Reporting by Natalie Thomas; Editing by Richard Borsuk)

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