Chinese equities fell Wednesday as fresh inflation concerns mounted after authorities announced an increase in fuel prices late Tuesday.
The benchmark Shanghai Composite Index dropped 0.9 percent, or 26.21 points, to finish at 2,877.9 points.
The Shenzhen Component Index lost 0.82 percent, or 105.49 points, to close at 12,766.95 points.
China's top economic planning agency announced Tuesday the nation would raise retail gasoline and diesel prices by about four percent. The increase was the third this year.
The move comes after Chinese inflation rose to a 28-month high of 5.1 percent year on year in November.
Turnover shrank to 239.84 billion yuan (36.03 billion U.S. dollars) from 259.64 billion yuan the previous trading day.
Losers outnumbered gainers 659 to 229 in Shanghai and 820 to 296 in Shenzhen.
Kweichow Moutai sank 1.57 percent to 190.95 yuan per share, its lowest level in a month, as investors fretted higher commodity prices will increase the company's costs.
Industrial and Commercial Bank of China (ICBC), the country's largest bank by market value, lost 0.71 percent to finish at 4.18 yuan per share.
Gree Electric Appliances, China's largest air-conditioner maker, lost 0.42 points, or 2.22 percent, to close at 18.48 yuan per share.
China Vanke, China's largest property developer by sales, declined 1.42 percent to nine yuan per share.
The benchmark Shanghai Composite Index dropped 0.9 percent, or 26.21 points, to finish at 2,877.9 points.
The Shenzhen Component Index lost 0.82 percent, or 105.49 points, to close at 12,766.95 points.
China's top economic planning agency announced Tuesday the nation would raise retail gasoline and diesel prices by about four percent. The increase was the third this year.
The move comes after Chinese inflation rose to a 28-month high of 5.1 percent year on year in November.
Turnover shrank to 239.84 billion yuan (36.03 billion U.S. dollars) from 259.64 billion yuan the previous trading day.
Losers outnumbered gainers 659 to 229 in Shanghai and 820 to 296 in Shenzhen.
Kweichow Moutai sank 1.57 percent to 190.95 yuan per share, its lowest level in a month, as investors fretted higher commodity prices will increase the company's costs.
Industrial and Commercial Bank of China (ICBC), the country's largest bank by market value, lost 0.71 percent to finish at 4.18 yuan per share.
Gree Electric Appliances, China's largest air-conditioner maker, lost 0.42 points, or 2.22 percent, to close at 18.48 yuan per share.
China Vanke, China's largest property developer by sales, declined 1.42 percent to nine yuan per share.
