Chinese stocks decline over 1% as commodity prices tumble

China stocks dropped more than 1% on Wednesday, snapping a six-session winning streak, as a tumble in commodity prices hit resource shares and prompted profit-taking amid signs of persistent lethargy in the economy.

The blue-chip CSI300 index declined 1.2% to 3,071.91, while the Shanghai Composite Index shed 1.3% to 2,862.56 points, registering their first losses in seven sessions.

All sectors, with the exception of banks, lost ground as China's much worse-than-expected February trade data revived concerns about the country's economic health.

An index tracking resource businesses tumbled 5.3% while the energy sector slumped 3.6%.

Investors dumped index heavyweights such as Baoshan Iron & Steel Co and Sinopec on lower raw material and oil prices.