China A-shares end morning lower on profit-taking; nonferrous metals gain-UPDATE

China A-shares ended the morning lower led by property developers and financials as profit-taking set in after a string of gains, dealers said.

Nonferrous metals stocks outperformed after a strong rebound in commodity prices.

Hainan Airlines (SHA 600221; SHB 900945) rose by the 10 pct daily limit to 3.83 yuan. The carrier said its parent, Grand China Airlines, is considering making a request to the Hainan provincial government for a capital injection.

The benchmark Shanghai Composite Index ended the morning down 22.57 points or 1.08 pct at 2,068.20, close to the intra-session low. It is still up 10.53 pct so far this month.

Investors expect the Central Economic Work Conference, where senior officials will identify their priorities for next year, to produce more measures to prop up the economy.

'Profit-taking emerged after a 3.6 pct gain yesterday,' said Chen Huiqin, an analyst at Huatai Securities. 'Technically, if the key index can hold above 2,060 points and turnover remains heavy today, there could be more upside.'

Duan Junfang, an analyst with Hengtai Securities, also sees the rebound to likely be extended due ahead of the announcement of more domestic stimulus measures and a recovery in overseas markets.

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