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China Stocks Seen Rangebound Amid Uncertainty

Cheng Lei|Reporter, CNBC Asia Pacific
Thursday, 24 May 2012 | 10:40 AM ET

China stocks are set for more rangebound trading on Friday, as investors continued to grapple with global and domestic economic uncertainties.

Day traders at a local brokerage in Hong Kong
Mike Clarke | AFP | Getty Images
Day traders at a local brokerage in Hong Kong

The Shanghai Composite fell for the second day in a row, closing 0.53 percent lower to end at 2350.97 on Thursday. Turnover remained thin.

Stocks to Watch:

Property Stocks - The Chinese Academy of Social Sciences issued a blueprint for the property sector, calling 2012 the "toughest" year for the industry. It forecast moderate property price declines and lower profits for developers.

Solar Cell Stocks - Some 17 Chinese solar power companies formed an alliance in Shanghai and called for an end to protectionism. The alliance said the result of the U.S. investigation into Chinese exports was "disappointing." Meanwhile China's Ministry of Commerce said U.S. subsidies for the alternative energy sector contravened World Trade Organization rules.

—By Cheng Lei, CNBC Asia Pacific