Chinese stocks close lower Thursday ahead of data
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Chinese shares closed lower on Thursday one day ahead of China's monthly economic data release.
The benchmark Shanghai Composite Index slid 7.76 points, or 0.25 percent, to 3,042.64.
The Shenzhen Component Index dipped 110.16 points, or 0.84 percent, to 12,991.93.
Combined turnover expanded to 253 billion yuan (38.74 billion U.S. dollars) from 246.23 billion yuan the previous day.
Losers outnumbered gainers by 573 to 318 in Shanghai and 744 to 453 in Shenzhen.
The market was down on speculation of Friday's macro-economic figures and that inflation would climb month on month, said Ping An Securities analyst Wang Ren.
The property sector declined. China Vanke Co., the nation's biggest listed property developer, dropped 1.46 percent to 8.80 yuan per share.Poly Real Estate Group Co., the country's second-largest developer by market value, dropped 2.26 percent to 13.83 yuan per share.
The coal sector dived with China Shenhua Energy Co., the country's largest coal producer, down 1.23 percent to 30.63 yuan per share.
The State Council, or China's Cabinet, on Wednesday pledged to continue the country's prudent monetary policy to rein in consumer prices while maintaining macro control over the runaway property market.
China's March CPI may rise 5.2 percent year on year, said a survey released Tuesday by Xinhua08, a financial trading system established by Xinhua News Agency.
