China Stocks Pare Drop as Drug Makers, Developers Bounce Back
- Health-care shares close 2.3% higher after falling 1.3%
- Real estate companies also rebound on hopes for easing rules
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Chinese equities pared losses in afternoon trading as optimism over possible easing of rules in the property sector and the growth potential of some pharmaceutical firms offset earlier concerns of rising inflation.
The benchmark CSI 300 Index closed 0.5% lower, narrowing an earlier loss of 1.9%. Consumer staples was the worst performing subgauge, while Aier Eye Hospital Group Co. and liquor giant Kweichow Moutai Co. were the top two point drags.