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China shares ease from multi-week highs, ZTE sinks
December 5, 2013 / 7:10 AM / 4 years ago

China shares ease from multi-week highs, ZTE sinks

HONG KONG, Dec 5 (Reuters) - China shares slipped from multi-week highs on Thursday, led by telecoms equipment maker ZTE Corp as investors took profits after Beijing issued long-awaited 4G licences to China’s three biggest mobile operators.

The Shanghai Composite Index, which ended on Wednesday at its highest since Sept. 12, closed down 0.2 percent at 2,247.1 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings slipped 0.3 percent.

ZTE’s A-share listing tumbled 6 percent in its biggest daily loss in six weeks, but is still up more than 62 percent on the year, compared with the 2.2 percent loss for the CSI300.

The Nasdaq-style ChiNext Composite Index of mostly technology start-ups listed in Shenzhen slid 2.5 percent in a fourth-straight daily loss to close at its lowest in three weeks.

Warren Buffett-backed Chinese automaker BYD jumped 4.5 percent in Shenzhen after the official Shanghai Securities Journal reported on Thursday that the second batch of cities to be admitted to a trial for vehicles running on clean energy may be released “soon”, citing an industry insider. (Reporting by Clement Tan; Editing by Jacqueline Wong)

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