China: Stocks fall most in 3 weeks on profit-taking

[BEIJING] China stocks closed lower on Monday as some investors took profits on infrastructure and transportation shares, leaving the blue-chip CSI 300 index with its worst loss in three weeks.

The CSI300 index, which tracks the largest listed companies trading in Shanghai and Shenzhen, fell 0.8 percent to 3,336.79 points, its biggest percentage fall since Aug.1.

The Shanghai Composite Index closed down 0.7 percent at 3,084.81.

Analysts said they expect further capital inflows to boost sentiment over the long run.

Infrastructure and transportation sectors were among the top losers on Monday, with sub-indexes, falling 1.32 per cent and 0.87 per cent, respectively.

The two sectors rose last week as state media reported that investment by Chinese firms into "One Belt, One Road" countries along the new Silk Road trade route has already reached US$51.1 billion.

REUTERS