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China shares hover near 3-week lows, Moutai drags
May 20, 2014 / 7:12 AM / 4 years ago

China shares hover near 3-week lows, Moutai drags

HONG KONG, May 20 (Reuters) - China shares lingered at three-week lows on Tuesday, as continued losses in the beverage sector offset most gains from financial and energy counters.

The Shanghai Composite Index ended a choppy session up 0.2 percent at 2,008.12 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings finished flat.

The ChiNext index of mostly high-tech start-ups listed in Shenzhen gained 1.4 percent, after the country’s top securities regulator said it anticipates 100 initial public offerings between June and the end of the year, a smaller amount than some investors had feared.

The beverage sector extended losses from Monday, led by Kweichow Moutai Co Ltd, which lost 2 percent and hit the lowest since Feb. 27. China’s top seller of the fiery liquor baijiu was the biggest drag for both indexes on Tuesday. (Reporting by Grace Li; Editing by Jacqueline Wong)

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