China’s blue-chip stocks fall on lower expectations of real estate relief

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China’s blue-chip stocks closed lower on Friday as developer papers retreated after posting purchases in the previous session amid easing bets on real estate policies.

The CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, retreated 0.21%, while the Shanghai index rose 0.18%.

For the week, the Shanghai index gained 1.4%, the biggest weekly rise in two months. The CSI300 advanced 1%, the biggest gain in five weeks.

Real estate companies fell 2.3%, a day after recording their best session in nearly seven years amid a series of positive signs for easing policy in the sector.

Bankers and analysts, however, said China will remain firm on measures to curb excessive borrowing by property developers even as it makes changes to financing to help buyers and meet “reasonable” demand amid the industry’s liquidity crisis .

There is little evidence that the rules to contain the increase in debt in the sector will be relaxed.

. In TOKYO, the Nikkei index rose 1.13% to 29,609 points.

. In HONG KONG, the HANG SENG index rose 0.32% to 25,327 points.

. In SHANGHAI, the SSEC index gained 0.18% to 3,539 points.

. The CSI300 index, which brings together the largest companies listed in SHANGHAI and SHENZHEN, retreated 0.21% to 4,888 points.

. In SEUL, the KOSPI index appreciated by 1.50% to 2,968 points.

. In TAIWAN, the TAIEX index rose 0.38% to 17,518 points.

. In SINGAPORE, the STRAITS TIMES index devalued by 0.30%, to 3,228 points.

. In SYDNEY the S&P/ASX 200 index advanced 0.83%, to 7,443 points.

Reference: CNN Brasil

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