China shares sag but property shines as cooling measures lack punch

Chinese shares fell to their lowest since the start of the year on Monday after an official purchasing managers’ survey came in lower than expected, suggesting headwinds remain for the world’s second largest economy.

But property stocks advanced after tightening measures unveiled by authorities in three cities over the weekend appeared less strict than investors had feared.

The large-cap CSI300 index and the Shanghai Composite Index were both 0.2 per cent lower at midday, with the latter hitting its lowest level since Dec. 28.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1204637/china-shares-sag-property-shines-cooling-measures-lack