China stocks post third consecutive loss after blue chip sell-off

Chinese stocks ended lower to post a third consecutive session of losses on Thursday, with the benchmark Shanghai index hitting a six-month low, even as data showed the country’s trade performance in January exceeded expectations.

Investors dumped blue chips, including energy and banking firms, as well as infrastructure and property companies.

At the close, the Shanghai Composite Index was down 47.21 points, or 1.43 percent, at 3,262.05, while the blue-chip CSI300 index was down 0.95 percent.

The smaller Shenzhen index ended 1.23 percent higher and the start-up board ChiNext index rose 1.55 percent.

The largest percentage gainers in the main Shanghai Composite Index were Meidu Energy Corp up 10.13 percent, followed by Jiangsu Jiangnan High Polymer Fiber Co gaining 10.05 percent and Sichuan Western Resources Holding Co up by 9.96 percent.

The largest percentage losers in the Shanghai index were Routon Electronic Co down 10.02 percent, followed by Zhonglu Co down 10.01 percent and China South Publishing & Media Group Co down 9.99 percent.

So far this year, the Shanghai stock index is up 0.06 percent, the CSI300 is down 0.5 percent, while China’s H-share index listed in Hong Kong is up 6.2 percent. Shanghai stocks have declined 4.93 percent so far this month.

About 20.13 billion shares were traded on the Shanghai exchange, roughly 92.8 percent of the market’s 30-day moving average of 21.68 billion shares a day.

The price-to-earnings ratio of the Shanghai index was 15.27 as of the last full trading day while the dividend yield was 1.9 percent.