SHANGHAI: China stocks reversed earlier gains to end lower on Monday, as investors pocketed profits following a recent strong rally.
The blue-chip CSI300 index closed down 1.1% at 5,077.24, while the Shanghai Composite Index declined 1% to 3,441.17.
The retreat came after the blue-chip index gained 3.4% in the previous week, its best in more than two months.
The tech-heavy start-up board ChiNext ended 0.8% lower on Monday, having gained 14% from a trough hit on March 25.
Analysts said despite the recent rally, stocks could continue to be rangebound given the uncertainties around Sino-US relations, liquidity and policies. “For now, investors should not expect a big rally, nor a big slump, going ahead in the A-share market, as Beijing would move to rein in market fluctuations to prevent risks,” said Zhang Chengyu, a Beijing-based hedge fund manager.
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