Shanghai Composite Index ends longest rally in 23 years

The Shanghai Composite Index fell 0.8% on Wednesday, ending a 10-day rally that saw shares up 12% and which marked the mainland bourse’s longest winning streak in 23 years, Bloomberg reported. Huaneng power (600011.SHA), the listed unit of China’s largest power group, slumped the most in three weeks. Meanwhile, the Hang Seng China Enterprises Index of Chinese shares traded in Hong Kong dropped 0.3%, erasing its gain for the year.