Delayed US debt-limit vote hit markets

SHANGHAI - Stocks on the Chinese mainland fell, capping the benchmark index's biggest weekly drop in two months, as a delayed debt-limit vote by US lawmakers fueled concerns over a possible default.

PetroChina Co led energy companies lower as oil futures headed for the first weekly drop in five weeks. China Railway Construction Corp fell to a record low after the 21st Century Business Herald said debt levels were forcing the railway ministry to withdraw from regional rail investments. China CITIC Bank Corp surged 7.8 percent, pacing gains for banks on speculation the central bank may cut reserve-requirement ratios.

The Shanghai Composite Index lost 7 points, or 0.3 percent, to 2701.73 at the 3 pm close. It slid 2.5 percent this week, the most since the period to May 27. The CSI 300 Index dropped 0.3 percent to 2972.08, taking its weekly loss to 3.1 percent.