Shares snap gains, end lower on profit-taking

SHANGHAI: Mainland stocks fell for the first time in four days, led by property developers, as investors speculated recent gains outpaced prospects for earnings.

China Vanke Co, the largest developer, slid 1.5 percent to 11.58 yuan and Poly Real Estate Group Co declined 2.2 percent to 25.04 yuan. Baoshan Iron & Steel Co, the nation's biggest steelmaker, gained 3.6 percent after the National Development and Reform Commission said the industry made a profit.

The Shanghai Composite Index fell 5.12, or 0.2 percent, to 3264.63 at the close, halting a three-day, 5.6 percent advance. Signs that China's economic recovery is strengthening have driven the gauge up 17 percent this quarter, the fourth-best performer among 90 indexes tracked by Bloomberg worldwide. The CSI 300 Index fell 0.2 percent to 3590.88.