China shares end lower as cautious investors await govt steps from political meetings

China shares closed down on Wednesday as cautious investors held back waiting to hear the government's economic plans to be made during the country's annual political meetings.

** At the close, the Shanghai Composite index was down 0.51% at 2,883.74.

** The blue-chip CSI300 index was down 0.53%, with its financial sector sub-index lower by 0.04%, the consumer staples sector down 0.57%, the real estate index down 1.21% and the healthcare sub-index down 1.18%.

** The smaller Shenzhen index ended down 0.97% and the start-up board ChiNext Composite index was weaker by 1.213%.

** While China's parliament will begin a key annual session on Friday, its advisory body The Chinese People's Political Consultative Conference will start its session a day earlier.

** The sentiment is weak before these meetings as investors await clearer signs of government measures to counter the impact of COVID-19 on the economy, Western Securities' analyst Cao Xuefeng said.

** The new energy vehicle sector bucked the trend, rising 2.3%, on expectations of more government incentives after Shanghai's plan to give 4,000 yuan each to buyers for purchasing vehicles with lower emission.

** China reported six confirmed coronavirus cases for May 18, including a new case in Wuhan, the health authority said on Tuesday, compared to seven a day earlier.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.08%, while Japan's Nikkei index closed up 0.79%.

** At 07:05 GMT, the yuan was quoted at 7.1038 per U.S. dollar, 0.05% weaker than the previous close of 7.1.