Fears of end to stock-selling ban unfounded

Friday's decline led by consumer and industrial stocks, but Shanghai index still 12 percent ahead since March

Fears that a selling ban imposed on major shareholders of listed companies will expire soon are unfounded, an analyst said as the Chinese stock market declined for a third day on Friday.

The benchmark Shanghai Composite Index dropped 0.8 percent to close at 2,984.96 points after rebounding 12 percent in March.