China shares fell on Wednesday as weak industrial profit data highlighted growing strains on the economy, outweighing U.S. President Donald Trump's remark that an initial trade deal with Beijing was near.

At the close, the Shanghai Composite index fell 0.1% to 2,903.19 and the blue-chip CSI300 index was down 0.4%, while most other Asian markets gained on hopes of a deal.

The CSI300 financial sector sub-index fell 0.3%, the consumer staples sector eased 0.1%, and the real estate index was down 0.9%. Industrial profits fell 9.9% in October year-on-year to 427.56 billion yuan ($60.74 billion), marking the biggest drop since the January-February period and compared with a 5.3% decline in September.

Source : Reuters