BEIJING: China shares ended lower on Wednesday, dragged down by losses in material and healthcare stocks, as investors worried over lofty valuations and the outcome of a US Federal Reserve meeting that could prompt foreign outflows.
At the close of trade, the Shanghai Composite index was down 1.07% at 3,518.33 and the blue-chip CSI300 index lost 1.67%, having finished weaker on Tuesday.
Analysts said there was a lack of factors for any upside momentum, while lofty valuations in some parts of the market were a cause of concern.
Among the worst-performing sectors on Wednesday, the material sub-index slumped 3.08% as a report on restrictions over state-owned firms’ overseas commodity exposure accelerated a sell-off in the sector.
The healthcare sub-index lost 3.01%, with sector heavyweight Wuxi AppTec Co Ltd sliding 5.53%.
The smaller Shenzhen index ended down 2.34% and the start-up board ChiNext Composite index was weaker by 4.18%.
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