BEIJING: China shares ended lower on Wednesday, as investors booked profits after a rally in healthcare firms driven by the country’s recent three-child policy.
At the close, the Shanghai Composite index was down 0.76% at 3,597.14, while the bluechip CSI300 index was down 0.97%.
Falling the most, the CSI300 healthcare subindex declined 1.85%, while the information technology subindex fell 1.86% and the securities subindex skid 1.83%.
Some birth- and fertility-related companies were cheered by investors on Tuesday after Beijing allowed married couples to have up to three children, as recent data showed a dramatic decline in births in the world’s most populous country.
Meinian Onehealth Healthcare Holding Co, down 3.8%, and vaccine producer Walvax Biotechnology Co Ltd, 3.5% lower, were the two biggest decliners on the healthcare subindex.
Market reaction over the latest coronavirus outbreak in China’s most populous province of Guangdong was largely muted on Wednesday. Cities in Guangdong have locked down compounds and streets as the province reported 41 locally confirmed Covid-19 cases between May 21 and June 1.
The smaller Shenzhen index ended down 1.11% and the start-up board ChiNext Composite index was 1.731% weaker.
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