Shanghai Composite up 0.22% at 3,147 points (Il Sole 24 Ore Radiocor) - Shanghai , 07 May - Chinese shares closed little changed amid strong Asian markets as a recent rebound appeared to be running out of steam.

Mainland stocks rallied yesterday to a 7-month high as investors digested data that renewed optimism over the country's economic recovery. The figures showed that China's services activity expansion slowed slightly amid rising costs, but growth in new orders accelerated and business sentiment improved, pointing to a continued resilience in the country's services sector.

Today in mainland stock market dealings CSI Information Technology and artificial intelligence shares led the losses.

Financials also slid, while consumer, real estate and healthcare stocks closed slightly higher.

Also weighing on the mainland markets today, foreign investors turned net sellers.

The Shanghai Composite index closed up 0.22% at 3,147 points, while the Shenzhen CSI 300 closed up 0.03% at 3,659 points.

The Shanghai Composite was up 2.6% in April, while the CSI300 rose 2.5% for the month, both outperforming their regional peers as optimism over corporate earnings and a series of policy support measures to boost investor confidence recently helped lift sentiment.

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(RADIOCOR) 07-05-24 11:15:47 (0351) 5 NNNN