China stocks fall, weighed by tech, resource stocks

China stocks reversed earlier gains to end lower on Wednesday, as technology and resource stocks took a breather after their recent strong rally.

The blue-chip CSI300 index fell 0.4 per cent, to 3,421.71 points, while the Shanghai Composite Index shed 0.2 percent to 3,212.99 points. 

Most sectors retreated, led by materials and industrial stocks.

The tech-heavy start-up index ChiNext lost 0.9 per cent in its biggest fall since Jan. 24.

However, bank stocks gained 1 per cent as some large Chinese joint-stock banks and local commercial banks were reported to be involved in the second batch of non-performing asset securitisation.

The Shanghai SOEs Index also gained 1.8 per cent after news that Shanghai State-owned Enterprises Work Conference would be held on Thursday, which was expected to set the course for this year's reform.

Shanghai International Port shot up by its 10 per cent trade limit to a 13-month high on reform hopes.

Golden Dragon slumped 7.9 per cent to a near one-month low, after the company said it is being probed for suspected bribery.

Source :Times Of Oman