China stocks end lower on Wednesday

Updated: 2016-11-09 15:38


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China stocks end lower on Wednesday

An investor checks stock information at a brokerage house in Fuyang, Anhui province, Nov 9, 2016.[Photo/IC]

China stocks ended lower on Wednesday, but earlier losses were partially reversed, as worries eased over an increasingly possible shock US election win for Republican Donald Trump.

The Shanghai Composite Index lost 0.62 percent, at 3,128.37 points.

The smaller Shenzhen Component Index closed 0.61 percent lower at 10,697.11 points. The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 1.23 percent to close at 2,123.84 points.  

Global markets had bet on a Hillary Clinton victory, but every new exit poll in the US election showed the race to be a nail-biter, sending investors stampeding to safe-haven assets as they braced for the possibility of the kind of "Brexit shock" that has so far been under-priced.

The "sentimental repercussions", which analysts cited as one of the reasons for the sell-off earlier today, seemed to have limited impact on a relatively strong China market, with benchmark SSEC having climbed to a 10-month high on Tuesday.

Most sectors lost ground, while material and property stocks gained, lifted by a strong rally in the shares of gold miners amid a rush to safe-haven assets.

Chinese developer giant Vanke surged as much as 10 percent despite overall weakness in the market, after reports that China Evergrande Group and its "allies" had further boosted their combined stake in Vanke to more than 10 percent.