The CSI300 index, which tracks the largest listed companies trading in Shanghai and Shenzhen, fell 0.6 percent to 3,308.97 points, while the Shanghai Composite Index lost 0.6 percent to 3,068.33.
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Chinese stocks dropped notably on Thursday, led by property sector shares. Both indexes hit their lowest since August 12.
The Hang Seng index dropped 0.1 per cent to 22,808.09 points. Turnover was a fairly low 200.9 billion yuan (US$30.2 billion). Analysts said after the latest land deal in Shanghai, estimated at 150,000 yuan per square meter, it was not a surprise that the government was moving to cool the property market.
Trading sentiment yesterday was muted after the China Banking Regulatory Commission on Wednesday unveiled aggressive measures to curb China’s fast-growing peer-to-peer lending sector as almost 50 percent of the sites are “problematic”.
The regulation prohibits P2P platforms from accepting public deposits, pooling investors’ money for their own projects, providing guarantees for lenders, or selling financial products.
Shares of China Traditional Chinese Medicine Holdings rebounded sharply Wednesday on the Hong Kong market after the company’s net profit more than doubled for the fiscal first half, with an October acquisition contributing significantly.
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China, the world’s biggest gold consumer, cut bullion imports from Hong Kong in July as the highest global prices in more than two years deterred buyers.
