Equities plunge on loan curb worries

Mainland stocks fell to a two-week low, led by banks and developers, as Bank of Communications Ltd reported profit that missed analyst estimates and the government said it plans to tighten rules on personal loans.

Bank of Communications slid 3.2 percent after its profit climbed a smaller-than-expected 1.5 percent. Industrial & Commercial Bank of China Ltd lost 2.2 percent while China Vanke Co dropped 3.8 percent as the banking regulator said it's tightening rules to ensure loans enter the real economy instead of being used for speculation.

The Shanghai Composite Index lost 70.86, or 2.34 percent, to 2,960.36, closing at the lowest level since Oct 13. The CSI 300 Index declined 2.47 percent to 3,247.05.