Early modest gains for China shares were largely erased on Tuesday afternoon on declines by property stocks following home-price data and concern that a local developer could default, Reuters reported. The Shanghai Composite Index ended the day up 0.1 percent at 2,025.19 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings shed 0.2 percent. Early in the day, both indexes were up, helped by gains for Kweichow Moutai on a report that the distiller would spin off some assets. Property stocks were hurt by pricing data indicating the sector is losing some steam. A mainland media report that a local developer could default on a large loan added pressure on the already soft business. Property developers Poly Real Estate Group and China Vanke fell 2.8 and 2.1 percent respectively.
