SHANGHAI: China stocks ended lower on Tuesday, with healthcare and tech firms leading the losses, as local investors remained wary of lofty valuations of certain sectors. The blue-chip CSI300 index edged down 0.1% to 5,083.10, while the Shanghai Composite Index ended flat at 3,530.26 points. Shenzhen’s start-up board declined 1.8%, while Shanghai’s tech-focused lost 2.7%.
Leading the declines among sectors, the CSI300 healthcare index tumbled as much as 6% before ending 3.8% lower. Hangzhou Tigermed Consulting Co Ltd, Shanghai Fosun Pharmaceutical Group Co Ltd, Aier Eye Hospital Group Co Ltd, Beijing Tongrentang Co Ltd, and Wuxi AppTec Co Ltd retreated between 5% and 10.9%. “The growth rates of many healthcare firms could not support their current high valuations,” Yan Kaiwen, an analyst with China Fortune Securities said.
The CSI300 real-estate index climbed 2.9%, with bellwether Vanke up 2.8%. Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.08%, while Japan’s Nikkei index closed up 0.16%.
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