Shanghai Composite Index Fell 0.89% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.89% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.35%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.13% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.24%.

Below is a rundown of the top China business and finance stories, plus other news for the day:

· Flooding in Northern China Triggers $23 Million of Insurance Claims