SHANGHAI: China’s shares ended lower on Tuesday, as losses in materials, financials and consumer discretionary firms weighed on broader indexes amid concerns over the impact of the Omicron COVID-19 variant and debt risks facing property developers.
At the close, the Shanghai Composite index was down 0.53% at 3,661.53.
The blue-chip CSI300 index was down 0.67%, with its financial sector sub-index losing 1.17%, the resources sector falling 2.3%, the real-estate index down 2.47% and consumer discretionary firms ending 2% lower.
The real-estate index fell as concerns around debt risks saw bonds issued by Shanghai Shimao Co Ltd suspended from trade on the Shanghai Stock Exchange.
China securities regulator said on Monday it would properly resolve bond default risks and crack down on “fake financial exchanges” after holding a meeting to discuss instructions from last week’s Central Economic Work Conference.
Also hitting sentiment, several companies in one of China’s biggest manufacturing hubs suspended operations amid attempts to contain a COVID-19 outbreak.