Shanghai– China’s shares dropped on Wednesday, Reuters reported.

The blue-chip CSI300 index fell 0.3% to 4,263.84, while the Shanghai Composite Index was flat at 3,283.43 points.

The Caixin Services Purchasing Managers’ Index (PMI), which focuses more on small firms in coastal regions, dived to 42 in March from 50.2 in the prior month, as the surge in coronavirus cases restricted mobility and weighed on client demand.

Tourism and transport stocks lost 0.3% and 0.8%, respectively.

However, real estate developers jumped 2.4%, banks added 1.4%, and infrastructure shares rose 2.8% on expectations of more stimulus to support the economy.

Source: Saudi Press Agency