China shares posted their heaviest losses in weeks on Wednesday, underperforming other markets in Asia, with profit taking sapping the year's outperformers as traders cited worries of an impending resumption of initial public offerings.
The CSI300 of the leading Shanghai and Shenzhen A-share listings finished down 1.9%, at 2,421.4 points, in its worst single-day loss since Sept. 17. The Shanghai Composite Index sank 1.8% in its biggest daily loss since Sept 26. Losses on Wednesday erased most of last week's gains and came in relatively subdued volume. The Nasdaq-styled ChiNext Composite Index of mainly high-growth, high technology start-ups listed in Shenzhen was an underperformer, diving 3.6%. It is still up nearly 71% on the year.