2 Minute Read by Reuters Staff Reuters, Shanghai, July 6 – On Tuesday, Chinese stocks finished lower, with healthcare and technology companies leading the declines, as local investors remained leery about certain sectors’ exorbitant valuations. ** The blue-chip CSI300 index fell 0.1 percent to 5,083.10 points, while the Shanghai Composite Index remained unchanged at 3,530.26 points. ** Shenzhen’s start-up board fell 1.8 percent, while Shanghai’s tech-focused board dropped 2.7 percent. ** The CSI300 healthcare index fell as high as 6% before closing 3.8 percent lower.** Hangzhou Tigermed Consulting Co Ltd, Shanghai Fosun Pharmaceutical Group Co Ltd, Aier Eye Hospital Group Co Ltd, Beijing Tongrentang Co Ltd, and Wuxi AppTec Co Ltd all fell between 5% and 10.9 percent. “Many healthcare firms’ growth rates could not support their current high valuations,” said Yan Kaiwen, an analyst with China Fortune Securities.** Yan said some investors shifted to cheaper, more stable growth sectors, such as developers.** The CSI300 real-estate index climbed 2.9 percent, with bellwether Vanke up 2.8 percent. * China’s A-shares were trading at a 39.50 percent premium to Hong Kong-listed H-shares at 0714 GMT. (Shanghai Newsroom contributed reporting; Sherry Jacob-Phillips edited the piece.)/n
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