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 per cent at 3,597.14, while the bluechip CSI300 index was down 0.97 per cent.
Falling the most, the CSI300 healthcare sub-index declined 1.85 per cent, while the information technology sub-index fell 1.86 per cent and the securities sub-index skid 1.83 per cent.
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 per cent, and vaccine producer Walvax Biotechnology Co Ltd , 3.5 per cent 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 per cent and the start-up board ChiNext Composite index was 1.731 per cent weaker.
Around the region, MSCI’s Asia ex-Japan stock index fell 0.4 per cent, while Japan’s Nikkei index closed up 0.46 per cent.
