Stocks fall on growth concerns

China's stocks fell amid concern the government's efforts to make domestic consumption and services a bigger part of the economy will not be fast enough to offset sluggish demand for industrial goods and commodities.

The Shanghai Composite Index declined 0.5 percent to 3,455.50 at the close, erasing a gain of as much as 0.9 percent. Industrial and material companies posted the steepest losses among sectors, with Metallurgical Corp of China and China Minmetals Rare Earth Co sliding more than 4 percent.

Data this week showed China's factory-gate prices dropping for the 45th straight month.