China shares end lower as losses in tech stocks offset auto

China shares end lower as losses in tech stocks offset auto gains


China shares end lower as losses in tech stocks offset auto gains
Reuters
2/3/2021
* China reports fewest daily new COVID-19 cases in more than a month
BEIJING, Feb 3 (Reuters) - China shares ended lower on Wednesday, as profit-taking in tech stocks with high valuations outweighed gains in automakers on expectations of strong sales growth this year. ** At the close, the Shanghai Composite index fell 0.46% to 3,517.31 and the blue-chip CSI300 index shed 0.29%.
** The CSI300 IT index lost 3.4%, while the STAR50 index tracking Shanghai's tech-focused STAR Board, fell 1.9%. ** The auto sector sub-index surged 5.4%, the consumer staples sector was up 1.1%, while the healthcare sub-index gained 0.9%. ** Chongqing Changan Automobile Co Ltd reported a growth of 87.2% in its January vehicle sales from a year ago, while the country's industry association forecast a 4% rise in total annual vehicle sales for 2021 at 26.3 million units.

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