Insurers, China Oilfield lead share declines

The mainland stocks fell, led by insurers and oil-equipment makers, after Ping An Insurance (Group) Co's rating was cut at Citigroup Inc and crude declined.

Stocks also declined on concern new share sales will draw liquidity away from existing shares.

"Investors are cautious as stock prices are high and there's concern about the impact of any new policies, such as the resumption of IPOs," said Wu Kan, a Shanghai-based fund manager at Dazhong Insurance Co, which manages about $285 million.