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Equities decline on fears of new floats

The benchmark stock index in Shanghai fell the most in a month, led by smaller companies, on Thursday amid fears that new share offerings may divert funds. Wuhu Token Science Co and Beijing E-Hualu Information Technology Co slumped more than 5 percent, dragging the ChiNext index of small-caps shares down by the most since mid-September. Pangang Group Vanadium Titanium and Resources Co plunged 10 percent after the company said it has no plan to sell its non-mining assets. Train makers China CNR Corp and CSR Corp jumped at least 3.7 percent after the government approved railway investment worth 97.4 billion yuan ($15.9 billion).

Sept service trade deficit widens