China Shares See Winning Streak End as Commodities Tumble
China stocks dropped more than 1 percent on Wednesday, snapping a six-session winning streak, as a tumble in commodity prices hit resource shares and prompted profit-taking amid signs of persistent lethargy in the economy.
The blue-chip CSI300 index declined 1.2 percent, to 3,071.91, while the Shanghai Composite Index shed 1.3 percent, to 2,862.56 points, registering their first losses in seven sessions.
All sectors, with the exception of banks, lost ground as China's much worse-than-expected February trade data revived concerns about the country's economic health.
An index tracking resource businesses tumbled 5.3 percent, while the energy sector slumped 3.6 percent.
Investors dumped index heavyweights such as Baoshan Iron & Steel Co and Sinopec on lower raw material and oil prices.
(Reporting by Samuel Shen and Nathaniel Taplin; Editing by Richard Borsuk)