China's stocks close lower Tuesday
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China's stocks fell Tuesday, as investors feared the prospect of interest rates hikes and inflation control policies would dampen earnings.
The benchmark Shanghai Composite Index declined 1.61 percent, or 46.18 points, to close at 2,820.18.
The Shenzhen Component Index lost 1.6 percent, or 200.26 points, to end at 12,336.29.
Combined turnover rose to 334.3 billion yuan (50.1 billion U.S. dollars), a sharp increase from Monday's 260.7 billion yuan.
Losers outnumbered winners by 778 to 110 in Shanghai and 967 to 150 in Shenzhen.
Deputy governor of the People's Bank of China Ma Delun said Monday the central bank had been closely monitoring prices, market liquidity and economic growth and would take "responsive measures" in accordance with market changes.
Banking and real estate stocks continued Monday's decline.
Industrial and Commercial Bank of China Co., the country's largest lender, dropped 2.1 percent to 4.2 yuan, the lowest since Oct. 13. China Merchants Bank, the nation's sixth biggest lender, slid 1.73 percent to close at 13.05 yuan.
China Vanke, the country's largest listed property developer by market value, was down 0.49 percent to 8.13 yuan. Poly Real Estate Group Co., China's second biggest developer, dropped 1.3 percent to 12.12 yuan.
Non-ferrous metals shares rose on higher prices in the futures market. Tongling Nonferrous Metal Group Co., added 9 percent to 25.3 yuan. Yunnan Copper Co., was up 3.03 percent to end at 23.84 yuan.
