Shanghai Composite retreats after touching 3,700 as investors book profits

China stocks closed lower on Thursday after touching a 3-1/2-year high as investors locked in gains following the recent bull run.

At market close, the Shanghai Composite Index was down 0.5% at 3,666.44.

The blue-chip CSI300 Index also gave up gains to close largely flat.

Offsetting the losses, the tech-focused STAR50 index was up 0.8%​, the semiconductor index jumped 1.5% and the insurance sector jumped 2.3%.

In Hong Kong, the benchmark Hang Seng Index weakened 0.4% to 25,519.32. The tech index lost 1%..