China shares post biggest losses in three weeks, led by tech firms
Published 09/07/2014 | 08:12
China shares had their biggest fall in three weeks today, with tech firms leading losses following a tumble overnight in US markets.
China's consumer price inflation cooled slightly more than expected in June, data showed on Wednesday, pointing to lingering weakness in the world's second-largest economy.
The Shanghai Composite Index ended down 1.2 percent at 2,038.61 points while the CSI300 of the leading Shanghai and Shenzhen A-share listings lost 1.5 percent. Both had their biggest daily loss since June 19 after closing at their three-week highs on Tuesday.
Top CSI300 percentage loser was Iflytek, which dived 8.1 percent. DHC Software slumped 5.0 percent to a 1-1/2-month low.
China's trade data is expected on Thursday. Exports are forecast to rise 10.6 percent in June from a year ago, faster than May's 7 percent expansion and the best showing in five months.