Stocks hold steady

Shanghai shares were little changed on Thursday, as investors locked in profits from earlier gains.

Shanghai shares were little changed on Thursday, as investors locked in profits from earlier gains.

The Shanghai Composite Index edged down 0.05 percent to close at 2,719.70 points.

Shares of banking, automobile companies and brokerages were among the biggest losers. 

Investors are waiting for the results of trade talks as China and the United States are holding a new round of high-level economic and trade consultations in Beijing from February 14 to 15.

Japanese investment bank Nomura said in a report released on Thursday that "despite frequent trade talks at senior levels, many uncertainties linger over the ongoing trade dispute and do not bode well for the export outlook."

Despite external uncertainties, China's exports and imports both rose at a faster-than-expected rate in January.

Total goods trade rose 8.7 percent year on year in January to 2.73 trillion yuan (US$395.98 billion), according to a statement published by the General Administration of Customs. Exports jumped 13.9 percent year on year to 1.5 trillion yuan last month, while imports added 2.9 percent to 1.23 trillion yuan.

Great Wall Motor Co Ltd declined 2.14 percent to 7.30 yuan and Tianfeng Securities Co Ltd fell 1.58 percent to 7.49 yuan.

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