China’s Stocks Swing Between Gains, Losses Amid Growth Concern


06/06/2012 08:42 AST  Bloomberg

China’s stocks swung between gains and losses amid concern a slowdown in economic growth is deepening and that the government will stick to measures to contain real-estate prices.

China Vanke Co. (000002) and Poly Real Estate Co., the biggest Chinese developers, fell after the official Xinhua News Agency said property curbs will remain in place. SAIC Motor Co. led declines for automakers on concerns about the nation’s growth prospects after a former central bank adviser said the economy will have a “lukewarm” performance. Shandong Gold Mining Co. (600547), the second-largest bullion producer, climbed to the highest in seven months after Morgan Stanley recommended buying miners.

“There won’t a big run-up on stocks because the economy isn’t likely to see a strong V-shaped recovery,” said Zhang Ling, general manager at Shanghai River Fund Management Co. “Cyclical stocks will be under pressure because there isn’t a clear sign of a strong pick-up in economic growth.”

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