Reuters: Hot Stocks: China shares end sharply lower on tightening worry, property curbs

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China shares end sharply lower on tightening worry, property curbs Feb 21st 2013, 07:06 SHANGHAI | Thu Feb 21, 2013 2:06am EST SHANGHAI Feb 21 (Reuters) - China's main stock indexes closed down on Thursday on worries about monetary tightening and crackdowns on property sales. The slide was led by manufacturing and property stocks. The CSI300 index, which tracks the largest firms listed in Shanghai and Shenzhen, shed 3.4 percent to close at 2,610.5. The Shanghai Composite Index closed at 2,325.9 points, down 3 percent, dragged by finance and insurance shares. Analysts gave different explanations for the slide, with some citing concerns that the United States might wind down its monetary easing even as China's central bank conducted an unprecedented drain from the interbank market. Others said an announcement by China's state council late on Wednesday suggesting more property measures were on the way to curb price rises had also dampened sentiment. (Reporting by Pete Sweeney; Editing by Jacqueline Wong)

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