Equities fall on weak US job data

SHANGHAI - Stocks on the Chinese mainland fell to the lowest level in almost 14 months as a drop in a Chinese services index to a record low and a report showing no US jobs growth last month boosted concerns that global economic growth is stalling.

Anhui Conch Cement Co plunged 10 percent. PetroChina Co sank to a record low and Jiangxi Copper Co dropped the most in a month after the US unemployment rate stayed at 9.1 percent last month. Shenzhen Development Bank Co slumped after the China Securities Journal said new reserve requirements for 14 listed banks may increase by about 700 billion yuan ($110 billion) over the next six months.

The benchmark Shanghai Composite Index, lost 49.5 points, or 2 percent, to 2478.74 on Monday, the lowest level since July 19, 2010. The CSI 300 Index retreated 2.1 percent to 2743.82.