Shanghai stocks fall in early moves
HONG KONG (MarketWatch) — Chinese stocks fell on Thursday in early moves, with the benchmark Shanghai Composite Index down 0.5% at 2,094.89. Property shares fell after Bank of China predicted in a report Thursday that liquidity would remain tight in 2014 and more Chinese cities would see a decrease in housing price. Gree Real Estate dropped 1%, China Vanke fell 0.8% and Poly Real Estate Group Co. edged down by 0.1%. Shares of train manufacturers failed to get a lift from the news that China may export trains for the first time to Central or Eastern Europe next year, according to the official China Securities Journal on Thursday. China CNR fell 1%, and China CSR dropped 1.6%. Top machinery maker Zoomlion slipped 0.2%. The company said Wednesday it has acquired German’s leading dry mortar producer M-TEC. But details of the transaction was not announced.
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