China auto shares unmoved on end of tax incentives

Newswire

SHANGHAI, Dec 29 (Reuters) - China's major auto companies' shares were little moved at the open on Wednesday, shrugging off the finance ministry's announcement late on Tuesday that it would end tax incentives for small cars on Jan. 1. Top automaker SAIC Motor opened down 0.1 percent, while rival Chongqing Changan Auto dipped 0.4 percent at the open. Smaller automaker FAW Xiali was flat at the open. That compared with a 0.1 percent rise in the benchmark Shanghai Composite Index . ($1=6.83 ...

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