At the midday break, the Shanghai Composite index was down 0.33 per cent at 3,386.14 points, while the blue-chip CSI300 index was down 0.26 per cent.
Several sub-indexes recorded losses by the mid-day break, with the material sub-index dropping 1.9 per cent, the energy sub-index falling 1.54 per cent and the consumer staples sector slipping 1.25 per cent.
The smaller Shenzhen index was down 0.43 per cent, the start-up board ChiNext Composite index was weaker by 0.77 per cent, while Shanghai’s tech-focused STAR50 index was up 0.12 per cent.
The recent rally offered an opportunity for investors to take profits before the year-end, but continued policy support expressed in the latest economic working conference, and signs of economic recovery will back the performance in a long run, said Zhang Qi, an analyst with Haitong Securities.
China’s factory activity likely maintained a solid pace of expansion in December, a Reuters poll showed on Tuesday, as the world’s second-largest economy steadily recovers from the coronavirus crisis.
China is scheduled to release its official manufacturing Purchasing Manager’s Index (PMI) on Thursday.
