Shanghai shares post biggest daily loss in three weeks

HONG KONG Mon Jan 27, 2014 2:04am EST

HONG KONG Jan 27 (Reuters) - Shanghai shares posted their biggest loss in three weeks on Monday, led by financial counters as fears of a possible wealth-product default added to liquidity concerns as cash demand spiked ahead of the Lunar New Year holiday.

The Shanghai Composite Index ended down 1 percent at 2,033.3 points, its biggest single-day slide since Jan. 6. The CSI300 of the biggest Shanghai and Shenzhen A-share listings shed 1.3 percent.

Mainland China markets are shut for one week starting on Friday. (Reporting by Clement Tan; Editing by Jacqueline Wong)