Mainland stocks decline amid economic concerns

Stocks on the Chinese mainland fell, dragging the benchmark index down by the most in two weeks, as an unexpected drop in auto sales and a jump in money-market rates deepened concerns about the economy.

The Shanghai Composite Index slid 0.8 percent to 2,102.87 at the close, the most since Sept 26. The CSI 300 Index dropped 0.9 percent to 2,302.53.

The Shanghai index had risen the previous two days on signs the government is taking measures to support the market and boost consumer spending.

The People's Bank of China issued 47 billion yuan of 14-day reverse repurchase agreements at a yield of 3.45 percent on Thursday and 12 billion yuan of seven-day contracts at 3.35 percent.

China Daily - Bloomberg