China stocks little altered; healthcare firms dive, infrastructure gains

China stocks were little changed on Wednesday, with gains in infrastructure and utility firms offset by losses in consumer and healthcare companies.

China stocks were little changed on Wednesday, with gains in infrastructure and utility firms offset by losses in consumer and healthcare companies.

** The CSI300 index was unchanged at 3,101.53 points at the end of the morning session, while the Shanghai Composite Index gained 0.1 per cent to 2,548.88 points.

** Healthcare firms extend losses as investors fret over potential fallout from a vaccine scandal at Changsheng Biotechnology, with the index tracking major healthcare firms down as much as 2.1 per cent to a 13-month low.

** The unit of Changsheng Biotechnology, Changchun Changsheng Life Sciences Ltd, has been hit with penalties totalling 9.1 billion yuan ($1.31 billion) after it was embroiled in a scandal over falsifying data for a rabies vaccine

** Outperforming the market were Hainan-based firms, which jumped as Beijing granted the province free trade zone (FTZ) status on Tuesday.

** Hong Kong stock market is closed for the holiday on Wednesday. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.76 per cent while Japan's Nikkei index was up 1.41 per cent. ** The yuan was quoted at 6.924 per U.S. dollar, 0.07 per cent weaker than the previous close of 6.9192.

** The largest percentage gainers in the main Shanghai Composite index were Hna Innovation Co Ltd, up 10.11 per cent, followed by Gansu Ronghua Industry Group Co Ltd, gaining 10.04 per cent and YanTai Yuancheng Gold Co Ltd, up by 10.03 per cent.

** The largest percentage losses in the Shanghai index were Danhua Chemical Technology Co Ltd, down 10.07 per cent, followed by Zhejiang Huayou Cobalt Co Ltd, losing 10.01 per cent and Kangmei Pharmaceutical Co Ltd, down by 10.01 per cent.

** So far this year, the Shanghai stock index is down 23.01 per cent. Shanghai stocks have declined 9.75 per cent this month. ** About 6.95 billion shares have traded so far on the Shanghai exchange, roughly 58.5 per cent of the market's 30-day moving average of 11.89 billion shares a day. The volume traded was 11.94 billion as of the last full trading day.

** The Shanghai stock index is below its 50-day moving average and below its 200-day moving average.

** The price-to-earnings ratio of the Shanghai index was 10.92 as of the last full trading day, while the dividend yield was 2.9 per cent.