Chinese shares slipped 0.66% in morning despite government stimulus plan

Special Report:Global Financial Crisis

BEIJING, Dec. 18 (Chinese media) -- Chinese shares opened

slightly higher but slipped 0.66 percent to close morning trade, though the

government launched stimulus plan to boost real estate.

The benchmark Shanghai Composite Index lost 13.14

points to 1963.68, while Shenzhen Component Index edged down 0.75 percent

to7231.97 points.

Non-ferrous metal and transportation sectors declined

1.21 and 1.26 percent respectively.

Property shares was down 0.53 percent though policies

released late Wednesday to reduce tax on house transactions, in an effort to

boost property trade.

Chinese Premier Wen Jiabao on Wednesday called for a

healthy development of the country's real estate market at an executive meeting

of the State Council, or the cabinet. The government also vowed to build more

affordable houses.

China unveils new property stimulus

package

BEIJING, Dec. 17 (Chinese media) -- The State Council, or

Cabinet, on Wednesday announced a new real-estate stimulus package emphasizing

low-income housing and home ownership.

It was unveiled at an executive meeting of the Council, presided over by Premier Wen Jiabao. Full story