Stocks slip for a second day after interest rate hike

SHANGHAI - Stocks on the Chinese mainland fell for a second day after the central bank raised interest rates for a third time this year to slow growth in the world's second-largest economy.

PetroChina Co and China Shenhua Energy Co fell more than 1 percent on concern demand for raw materials will decline. SAIC Motor Corp and Anhui Conch Cement Co paced a retreat by industrial companies as Credit Suisse Group AG said it expects a "bumpy landing" for China's economy.

Kweichow Moutai Co advanced on speculation consumer stocks might weather slowing economic growth.