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Markets ignored news on a private pension scheme that will potentially channel more long-term money into the stock market.
At close of trade, the benchmark Shanghai Composite Index fell 2.26%, or 71.24 points, to 3,079.81. The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 3.11%, or 61.84 points, to 1,923.81. The blue-chip CSI300 index shed 1.84%, or 74.96 points, to 3,995.83.
CURRENCY NEWS: China's yuan weakened to a more than six-month low against the dollar, after the central bank set a weaker daily midpoint, as corporate dollar buying and expectations of U.S. policy tightening supported the greenback. Prior to market opening, the People's Bank of China set the midpoint rate CNY=PBOC at 6.4098 per dollar, 0.16% weaker than the previous fix at 6.3996. In the spot market, CNY=CFXS was changing hands at 6.4388 per dollar, 188 pips softer than Wednesday's late session close.
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