Shares hit 17-month low

SHANGHAI: The mainland stock market fell 3.09 percent to close at a 17-month low yesterday, led by financial and real estate companies as investors worried about interest rate hikes.

The benchmark Shanghai Composite Index slid 84.49 points to close at 2651.61, with 724 out of 911 stocks closing lower. The Shenzhen Component Index tumbled 2.92 percent, or 273.81 points, to close at 9096.97.

The turnover on the two bourses amounted to 63.86 billion yuan ($9.31 billion), up 4.2 percent from Monday. Total capitalization dropped 3 percent to 17.25 trillion yuan.