Chinese shares lower in morning trade

SHANGHAI: Chinese shares fell 0.78 percent in morning trade on Wednesday, erasing gains in the previous session after a government investment arm bought stock in major state-run banks, dealers said.

The Shanghai Composite Index, which covers both A and B shares, was down 18.34 points at 2,330.18.

Central Huijin Investment on Monday bought a total of 64.55 million shares of China's four biggest lenders in a move analysts said was aimed at shoring up the flagging market.