China stocks end lower on property sector woes, profit-taking

China shares ended lower on Wednesday, with property firms among the biggest laggards, on mounting pressure for raising cash under the government's new debt-ratio caps, while profit-taking in agricultural stocks after recent sharp gains also weighed. ** At the close, the Shanghai Composite index was down 0.56% at 3,340.78.

China shares ended lower on Wednesday, with property firms among the biggest laggards, on mounting pressure for raising cash under the government's new debt-ratio caps, while profit-taking in agricultural stocks after recent sharp gains also weighed.

** At the close, the Shanghai Composite index was down 0.56% at 3,340.78. ** The blue-chip CSI300 index was down 0.66%, with its real estate index down 1.21% and the healthcare sub-index down 0.61%. ** The agriculture sector sub-index fell 1.4 while the consumer staples sector lost 0.83%. ** The smaller Shenzhen index ended down 0.51% and the start-up board ChiNext Composite index was weaker by 0.735%.

** So far this week, the market capitalisation of the Shanghai stock index has risen by 2.67% to 38.86 trillion yuan ($5.77 trillion). ** China's second-largest property developer China Evergrande Group trimmed its share sale size as the government tackles what it considers excessive borrowing in the real estate development sector with new debt-ratio caps.

** Investors are booking profits after gains generated earlier this week on anticipation of President Xi Jinping's Shenzhen speech, said Zhang Yanbin, an analyst with Zheshang Securities. ** Shenzhen will strengthen property rights and protection of entrepreneurs, Xi said Wednesday in a speech to marking the establishment of the country's first economic zone in the southern city four decades earlier. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.1%, while Japan's Nikkei index closed up 0.11%. ** At 0700 GMT, the yuan was quoted at 6.7408 per U.S. dollar, 0.06% firmer than the previous close of 6.745. ($1 = 6.7396 Chinese yuan)