China stocks tumbled on Monday, with the blue-chip index posting its worst day in more than two months, led by a slump in consumer and healthcare firms as investors booked profits after a recent strong rally. At the close, the Shanghai Composite index was down 34.63 points or 0.97 percent at 3,523.50.
The blue-chip index was down 1.81 percent, the biggest fall since November 23. Its financial sector sub-index was lower by 1.49 percent, the consumer staples sector down 4.22 percent, the real estate index off 1.21 percent and healthcare sub-index down 2.94 percent. he smaller Shenzhen index ended down 1.56 percent and the start-up board ChiNext Composite index was weaker by 0.94 percent.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.09 percent while Japan's Nikkei index closed down 0.01 percent. At 07:02 GMT, the yuan was quoted at 6.3236 per US dollar, 0.09 percent firmer than the previous close of 6.3295.
The largest percentage gainers in the main Shanghai Composite index were Hainan Yedao Group Co Ltd up 10 percent, followed by Easysight Supply Chain Management Co Ltd gaining 9.99 percent and Tederic Machinery Co Ltd up by 7.32 percent. The largest percentage losses in the Shanghai index were Ningbo Veken Elite Group Co Ltd down 10.01 percent, followed by Hengtong Optic-Electric Co Ltd losing 10 percent and Lawton Development Co Ltd down by 10 percent.
So far this year, the Shanghai stock index is up 7.59 percent, the CSI300 is up 6.7 percent this year and China's H-share index listed in Hong Kong is up 17.2 percent. About 23.60 billion shares were traded on the Shanghai exchange, roughly 124.1 percent of the market's 30-day moving average of 19.03 billion shares a day. The volume in the previous trading session was 22.27 billion.
As of 07:03 GMT, China's A-shares were trading at a premium of 27.68 percent over the Hong Kong-listed H-shares. The Shanghai stock index is above its 50-day moving average and above its 200-day moving average.
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