BEIJING/SHANGHAI: China stocks erased earlier gains to end nearly flat on Wednesday, with gains in property stocks offset by losses in healthcare, as investors took a breather following a recent rally on upbeat data pointing to a continued economic recovery. At the close, the Shanghai Composite index was down 0.07% at 3,449.38.
The index hit its highest since February 2018 earlier in the session, as investors cheered better-than-expected manufacturing data and hopes of continued economic recovery. China's blue-chip CSI300 index ended flat, while the start-up board ChiNext Composite index was 0.57% lower. Shanghai's tech-focused STAR50 index closed up 0.3%.
Leading the gains, the real estate sub-index rose 0.96% by the end of the session, with heavyweight Greenland Holdings Corp Ltd gaining 2.63%. The sub-index tracking blue-chip healthcare stocks retreated 0.42%. The smaller Shenzhen index was up 0.16%.
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