China’s stock market closed lower on Wednesday as investors took profits on steel and transportation shares, which had recorded sharp gains in the previous two days.

At the close, the Shanghai Composite Index fell 0.22%, at 3,058.5 points, while the Shenzhen Component Index went 0.06% higher to 10,788.59 points.

The ChiNext Index, which tracks China’s NASDAQ-style board for growth enterprises, lost 0.05% to 2,209.69 points.

Total traded amounts of the Shanghai and Shenzhen bourses decreased to 160 billion yuan and 265.4 billion yuan, respectively.

Most sectors lost in both markets, with shares in steel and transportation industries among the biggest losers.

At the end of trading, 1,185 counters rose, 1,442 shares declined, and the remaining 312 shares closed flat.

Shanghai – Hong Kong Stock Connect
The Shanghai – Hong Kong Stock Connect today saw a net fund outflow of 527 million yuan, for northbound trade.

Among the total 569 stocks eligible for the northbound trade, 172 counters rose, 341 shares declined, and the balance 56 remained unchanged.

First Tractor Company Limited and Neway Valve (Suzhou) Co., Ltd. surged by their 10% daily maximum limit.