Chinese shares closed mixed on Wednesday as the manufacturing sector's expansion eased to a three-month low and home resale prices declined.
The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.4% higher to 4,112.46. The Shenzhen Component Index slid 0.5% to 16,119.17.
China's manufacturing output expanded for a seventh straight month in June, though the pace slowed to a three-month low. The manufacturing sector expanded at a slower pace last month as the headline RatingDog China General Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, eased to a three-month low of 51.7.
Resale home prices across 100 cities in China fell 0.42% month over month to 12,639 yuan per square meter in June, quickening from the 0.32% contraction logged in May.
Meanwhile, sources said the World Bank plans to gradually end new lending to China by 2031, limiting financing at $2 billion through that date. While no formal vote is mandated, the World Bank's board plans to review the initiative during the seven-day period beginning July 20, according to the report.
In company news, YTO Express (SHA:600233) forecasts an up to 86% rise in first-half profit amid improvements in the operating environment. Shares of the logistics company closed 10% higher Wednesday.