The ChiNext stock market was down Thursday as only 9 of the 79 stocks at China's start-up board for small and medium-sized enterprises were up, while two stocks were suspended from trading.
Chinese equities dropped to an eight-month low Thursday, led by energy and banking shares. The benchmark Shanghai Composite Index tumbled 4.11 percent to close at 2,739.70 points.
Hua Xia Bank Co's shares dived by the 10-percent daily limit Thursday after the bank said it will raise 20.8 billion yuan ($3.05 billion) through a private share replacement.
Mainland stocks rose, with the benchmark index rebounding from its lowest level in seven months, as investors speculated recent declines were overdone.
Nickel may lose its steam after a rally in April as China's latest monetary measure to cool the economy and crack down on sizzling property market could slash demand for the metal.
Ping An Insurance (Group) Co's A- and H-shares both had a lackluster performance on Wednesday despite the insurer just getting the green light from regulators to go ahead with its plan to acquire Shenzhen Development Bank.
Hong Kong stocks closed down 435.51 points, or 2.1 percent, at 20,327.54 on Wednesday.
The ChiNext Index was up Wednesday as all the 79 stocks at China's start-up board for small- and medium-sized enterprises rose except for two stocks were suspended from trading.
China's stock index futures ended mixed Wednesday with the contract for May, the most actively traded, up 0.23 percent to end at 3,076.4 points from the previous trading day.
Foreign investors are short selling China's stocks through a yuan-denominated exchange-traded fund at the highest rate in more than two years, underscoring concern that property curbs will slow the economy.
China's key stock index closed up 0.8 percent on Wednesday, managing a technical bounce from a seven-month low hit early in the session as concern over Greece's debt woes and weak overseas markets weighed on sentiment.
China's key stock index fell to a fresh seven-month low on Wednesday morning, dragged lower by bank and property shares, with weakness in overseas markets due to worries about Greece's debt woes weighing on sentiment.