China stocks close at biggest fall in two weeks

martes 23 de diciembre de 2014 03:26 GYT
 

SHANGHAI Dec 23 (Reuters) - China stocks posted the biggest daily drop in two weeks on Tuesday as investors took profits on infrastructure and banking shares in volatile trade.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 2.0 percent, to 3,324.92 points, while the Shanghai Composite Index lost 3.0 percent, to 3,032.61 points.

"There is no specific reason. This is just a normal situation as we saw a previous rise in stocks," said Wang Weijun, analyst at Zheshang Securities in Shanghai.

Investors took profits in infrastructure-related and small-cap shares, with the sub-indexes declining 5.0 and 3.5 percent.

Among the most-active stocks in Shanghai were Bank Of China , down 4.1 percent to 3.73 yuan; GD Power , down 0.2 percent to 4.50 yuan and Agricultural Bank of China, down 5.3 percent to 3.37 yuan.

In Shenzhen, BOE Technology, was unchanged at 3.34 yuan; TCL CORP, was up 1.3 percent to 3.97 yuan and China Vanke, up 0.3 percent to 11.75 yuan.

Foreign investment into Shanghai from Hong Kong through the mutual market access pilot programme took up 0.65 billion yuan of the 13 billion yuan daily quota.

Total volume of A shares traded in Shanghai was 43.7 billion shares, while Shenzhen's volume was 16.8 billion shares.

(Reporting by Chen Yixin and Kazunori Takada; Editing by Eric Meijer)