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China Stocks Suffer Worst Start Since 2019 on Profit Taking

  • Renewable firms fall on government decision to end subsidies
  • Losses follow PBOC’s move to drain liquidity from markets
Updated on

Chinese shares had their worst start to the new year since 2019, as investors took profit on some of their most successful bets in 2021. 

The benchmark CSI 300 index closed down 0.5% Tuesday, marking its weakest opening session in three years and led by declines in renewable energy and healthcare firms. Among the top losers, drugmaker Asymchem Laboratories Tianjin Co. fell by the 10% daily trading limit while Trina Solar Co. slumped 8.5%.