Chinese shares retreat, led by telecoms sector

China’s main equity indexes faltered on Wednesday, with telecoms operators suffering the biggest declines.

The benchmark Shanghai Composite Index closed down 0.43 percent to 2,941.62 points, and the smaller Shenzhen Component Index sank by 0.77 percent to 9, 567.75 points.

The blue chip CSI300 index shed 0.64 percent to 3, 871.08 points.

Turnover on the two major bourses totaled 368 billion yuan (US$51.91 billion), not far from 357 billion yuan in the previous trading session.

Most sectors dropped on the day, while shares of telecommunications operators, shipbuilders and liquor makers were among the biggest decliners.

Jewelry shares and the agriculture, forestry, animal husbandry and fishery industries led the gains.

On the new STAR Market, 33 out of 34 shares rose. Shares of Shenzhen Chipscreen biosciences Co Ltd surged by 20 percent. The only loser was Micro-Tech (Nanjing) Co Ltd.