Chinese stocks swung between gains and losses as declines by energy companies overshadowed gains by telecommunication firms. China Coal Energy Co. paced declines by coal companies. Fiberhome Telecommunication Technologies Co. added 2.5 percent. The Shanghai Composite Index rose 0.1 percent to 2,029.59 as of 9:45 a.m. local time after falling 0.3 percent earlier. The CSI 300 Index advanced 0.3 percent to 2,162.17. Markets in Hong Kong are closed today. UBS AG cut its forecast for China��s 2014 economic growth to 7.3 percent from 7.5 percent, and that for next year to 6.8 percent from 7.0 percent, Wang Tao, an economist at the Swiss bank, wrote in an e-mailed research note. Wang cited weaker property activity for the lower estimates and said the government will probably take steps to ease property curbs. A gauge tracking telecommunication companies gained 1.2 percent, taking its quarterly advance to 2.3 percent.
Source : Bloomberg