BEIJING/SHANGHAI: China stocks snapped a three-session rally to close lower on Wednesday, with consumer and healthcare shares leading losses, as experts were concerned over the safety of drugs used in experimental coronavirus vaccines in the country.
At the close, the Shanghai Composite index was down 0.36% at 3,283.92.
The blue-chip CSI300 index was down 0.66%, with its financial sector sub-index slipping 0.23%, while the real estate index closed 1% firmer.
Healthcare and consumer shares fell, with the consumer staples sector losing 1.81% and the healthcare sub-index down 1.83%. Shanghai Fosun Pharmaceutical Group Co dropped 5% to the lowest in nearly two months, while index heavyweight Kweichow Moutai shed 1.9%.
The smaller Shenzhen index ended down 0.91% and the start-up board ChiNext Composite index was weaker by 1.555%.
Bucking the trend, shares of auto-related firms rose with BYD Co, which manufactures electric buses that are sold in the United States, hitting a record high in Shenzhen on robust foreign inflows via the Stock Connect. Fuyao Glass Industry Group Co, which also runs a factory in the United States, ended at an all-time high.
Shares of Zhejiang Dahua Technology Co closed 6.4% lower after rising up to 4% earlier in the session. Alibaba Group Holding Ltd and China Mobile Communications Group Co are considering investing $443 mln in Dahua, three people with knowledge of the matter said.
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