China stocks fall as resources firms take beating

SHANGHAI, April 28 China stocks dropped on
Thursday, led by resource shares, as commodity prices fell in
response to fresh regulatory trading curbs, hitting already
fragile investor confidence.

The CSI300 index fell 0.2 percent, to 3,160.58
points at the close of trade, while the Shanghai Composite Index
lost 0.3 percent, to 2,946.20 points.

Reflecting weak market confidence, Shanghai’s trading
turnover stayed near four-month lows, while outstanding margin
loans – money investors borrow to buy stocks – have shrunk for
six sessions in a row.

Most sectors fell.

An index tracking raw material stocks fell 1
percent, as many commodity prices continued to fall after the
Dalian Commodity Exchange took further steps to calm volatile
futures markets on Wednesday.

(Reporting by Samuel Shen and Nathaniel Taplin; Editing by Shri
Navaratnam)

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Source URL:http://www.reuters.com/article/china-stocks-close-idUSZZN2RQ100

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