Property, finance send Chinese stocks lower at midday

Chinese stocks ended lower during the morning session on Monday, as investors remained cautious after the U.S. Federal Reserve announced to issue the third round of quantitative easing (QE3) last week.

The benchmark Shanghai Composite Index moved down 28.15 points, or 1.33 percent, to close at 2,095.7. The Shenzhen Component Index dipped 169.87 points, or 1.94 percent, to close at 8,570.18.

While increasing external demands for Chinese exporters, the market expected the QE3 to bring renewed pressure for the Chinese currency to rise further and push up imported inflation for the country, analysts said.

Property and finance shares dropped the most in the Monday morning session, with Poly Real Estate, the country's second largest property developer, down 5.76 percent to close at 9.81 yuan. China Minsheng Banking Co. lost 1.39 percent to 5.66 yuan.