Reuters

(Reuters)

China Shares Close Lower as Materials Stocks Weigh

Markets Reuters

China stocks slipped on Thursday as investors sold metals, mining and materials shares following weak trade data.

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June imports fell 8.4 percent from a year earlier, much worse than analysts' forecasts, according to data released after the market close on Wednesday. Exports also fell more than expected.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.2 percent to 3,276.76 points, while the Shanghai Composite Index lost 0.2 percent to 3,054.02.

The CSI300 materials sub-index was down 1.2 percent as the weaker June import data suggested a loss of economic momentum last month.

China will report second-quarter gross domestic product on Friday morning (0200 GMT).

(Reporting by Nathaniel Taplin; Editing by Kim Coghill)