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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.
China sees fewest daily new COVID-19 cases in more than a month Auto shares lead gains backed by strong sales growth
BEIJING, Feb 3 (Reuters) - China shares rose on Wednesday, boosted by automobile makers that gained on expectations of strong sales growth this year and easing concerns about COVID-19 outbreak after daily new cases dropped to their lowest in more than a month. At the midday break, the Shanghai Composite index was up 0.2% at 3,540.65 and the blue-chip CSI300 index was up 0.51%. Leading the gains, the auto sector sub-index surged 5.5%, the rare earth sector gained 3.7% and the healthcare sub-index was up 2.13%.