Chinese stocks retreated for a sixth successive session yesterday, their longest losing run for 16 months, as lingering concerns about moves to tighten policy kept the mood subdued.
The Shanghai Composite index closed at a seven-month low of 2,868.43, down 1.1 per cent on the day. That left the benchmark down 5.4 per cent since April 21, and 12.5 per cent lower since the start of the year.
Traders noted a late sell-off in small-cap shares, which have recently outperformed the broader market. Gree Electric Appliance, a maker of home air conditioners, slid 6.5 per cent to Rmb22.42, while retailer Shanghai Bailian fell 5.1 per cent to Rmb16.02.
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