China shares down 2.24pc in morning trade

PUBLISHED : Monday, 04 March, 2013, 10:15am
UPDATED : Monday, 04 March, 2013, 10:15am
AFP

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Chinese shares were down 2.24 per cent in early trading on Monday as investors sold property stocks after the government unveiled new measures to control the sector, dealers said.

The benchmark Shanghai Composite Index lost 52.80 points to 2,306.71.

China late Friday issued rules to further rein in home prices, including higher downpayments and mortgage loan rates for buyers of second homes.