November 15, 2016 / 7:17 AM / 2 years ago

China stocks slip as a commodity futures rout hits sentiment

SHANGHAI, Nov 15 (Reuters) - China stocks edged lower on Tuesday, snapping a three-day winning streak, as investors took profits in resource stocks after a slump in the country’s commodity futures market.

The blue-chip CSI300 index was flat at 3,429.87, while the Shanghai Composite Index lost 0.1 percent to 3,206.99 points.

The most active coke and coking coal futures in Dalian Commodity Exchange tumbled more than 7 percent, on track for the biggest one-day percentage losses since their launch.

The selloff spilled over into wider commodities, dragging down rebar, zinc and copper prices, causing a drop in heavyweight resources stocks.

Also curbing risk appetite was a weaker yuan, whose further depreciation could unnerve investors despite the boost it could give exports.

The yuan fell on Tuesday to its lowest level in nearly eight years as the dollar remained strong on expectations of higher interest rates under President-elect Donald Trump.

Sectors were mixed. Materials and infrastructures lost ground, while gains were seen in properties and consumers. (Reporting by Luoyan Liu and John Ruwitch; Editing by Richard Borsuk)

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