Reuters

(Reuters)

China Shares Up Slightly, Trading Light on Growth Concerns

Markets Reuters

China stocks rose slightly on Thursday, but trading volume remained near four-month lows amid fresh signs that the country's nascent economic recovery is resting on weak foundations.

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The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.1 percent, to 3,213.92, while the Shanghai Composite Index gained 0.2 percent, to 2,997.84 points.

China's robust market rebound since early March appears to be losing momentum as trading volumes have shrunk and the SSEC fails to stand decisively above the 3,000 mark - seen by many as a key psychological level.

A private survey showed on Thursday that activity in China's services sector expanded in April, but the gains were slightly less robust than in March.

Transportation shares were firm on Thursday, as airline stocks jumped after China's central government on Wednesday unveiled plans to promote airline transportation by pledging to open up low-altitude air space.

(Reporting by Samuel Shen and Pete Sweeney; Editing by Shri Navaratnam)