Stocks split, property shares extend winning streak

Stock markets on the Chinese mainland were divided once again Tuesday as investors positioned themselves for the release of widely watched economic data in the days ahead.

The Shanghai Composite Index finished at 2,227.74 after shaving off 6.66 points, or 0.30 percent; while the Shenzhen Component Index rose 22.70 points, or 0.25 percent, to close at 8,960.46.

The indices picked up steam in morning trading as property development, cement, steel and securities stocks rallied. However, the markets couldn't hold on to their early momentum in the afternoon as the Shanghai benchmark slid back below par. According to analysts, investors are getting defensive as the National Bureau of Statistics is scheduled to issue March inflation figures next week, followed by first quarter GDP data on April 15.

Stocks exposed to the real estate market climbed for a second day after new controls on the housing market were largely less strict than investors had expected. Among the developers which outperformed, China Vanke Co added 1.82 percent to 11.20 yuan ($1.80). Poly Real Estate Co increased 1.44 percent to 11.99 yuan.

Cement stocks were pulled along for the ride. Huaxin Cement Co soared 7.63 percent to 14.67 yuan. Anhui Conch Cement Co added 3.82 percent to 17.96 yuan.

Makers of Apple components weakened after the US giant posted an open letter to Chinese consumers Monday night saying that it would adjust its warranty policies in the country. Electronics manufacturer Suzhou Jinfu New Material Co dropped past the 10-percent daily limit to 23.08 yuan.