Risk hints push stocks down

Stock prices fell for a second day after President Xi Jinping said the world's second-biggest economy was facing "considerable downward pressure".

The Shanghai Composite Index slid 1 percent to 3,568.47 points at the close, led by industrial and technology companies. Data on Wednesday showed China's home-price recovery slowed in October, adding to a slew of reports including manufacturing and exports that show the government may struggle to achieve its 7 percent growth target for this year. CRRC Corp, China's biggest maker of railway equipment, declined 1.7 percent. Wangsu Science & Technology Co slumped 3.6 percent, paring this year's rally to 172 percent.

"There's no spotlight in the economy now as the new growth engine has yet to emerge," said Dai Ming, a fund manager at Hengsheng Asset Management Co in Shanghai. "The rebound in the broader market has already reached a critical level and it may take more time to digest some profit-taking and to consolidate here."