Stocks end lower as healthcare firms slump

Chinese mainland stocks reversed earlier gains on Monday, with gains in infrastructure firms offset by losses in healthcare firms.

The blue-chip CSI300 index fell 0.2 percent to 3,515.08 points, while the Shanghai Composite Index slipped 0.16 percent to 2,869.05 points.

Infrastructure stocks climbed after news that China plans to put more money into infrastructure projects and ease borrowing curbs on local governments to help soften the blow to the economy from the China-US trade war.

But healthcare firms tumbled, with an index tracking major healthcare firms falling around 3 percent, as a vaccine scandal continued to dampen risk appetite for the sector.

In amended rules, China’s securities regulator said companies whose activities harm national security, public safety or the public interest could be suspended or delisted.

The largest percentage gainers in the main Shanghai Composite Index were Jinxi Axle Co up 10.1 percent, followed by Sichuan Western Resources Holding Co gaining 10.09 percent and Ningbo Thermal Power Co up by 10.06 percent.

The largest percentage losers in the Shanghai index were Nanjing Xinjiekou Department Store Co Ltd down 9.98 percent, followed by Shandong Lukang Pharmaceutical Co Ltd losing 9.93 percent and Chongqing Road and Bridge Co Ltd down by 9.92 percent.