China stocks close lower on profit taking after long holiday
SHANGHAI Feb 25 (Reuters) - China's stocks fell on Wednesday as trading resumed after the Lunar New Year holiday, with some investors taking profits after the seven-day pre-holiday rally.
Analysts said that investors had shrugged off the positive surprise from industrial activity data on Wednesday morning and sold on disappointment that the central bank had not further eased interest rates over the holiday break.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 1.2 percent, to 3,478.73, while the Shanghai Composite Index lost 0.5 percent, to 3,228.84 points.
Among the most active stocks in Shanghai were China Petroleum, up 3.6 percent to 6.10 yuan; United Network, down 4.5 percent to 5.29 yuan and Bank Of China, down 1.2 percent to 4.05 yuan.
In Shenzhen, TCL Corp, down 3.5 percent to 4.64 yuan; BOE Technology, down 1.0 percent to 3.06 yuan and SGIS, up 4.3 percent to 4.83 yuan were among the most actively traded.
Total volume of A shares traded in Shanghai was 23.2 billion shares, while Shenzhen volume was 15.2 billion shares. (Reporting by Samuel Shen and Pete Sweeney; Editing by Jacqueline Wong)
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