SHANGHAI Dec 28 China stocks fell in timid
trade on Wednesday, with sentiment dampened by a regulator's
latest measures to put insurers' aggressive stock investments
under stricter supervision.
Both the CSI300 index and the Shanghai Composite
Index extended Tuesday's losses and fell 0.4 percent, to
3,302.21 points and 3,102.54 points respectively.
Investor confidence was shaken by Wednesday's media reports
that the vice chairman of the China Insurance Regulatory
Commission (CIRC) had said insurers were not platforms to enrich
Also on Wednesday, CIRC said it had suspended two insurers
from online insurance business and ordered them not to apply for
new product approvals for three months - the latest move to put
insurers under closer supervision.
All sectors in China stepped back, with the biggest declines
seen in infrastructure and property shares
, both down around 1 percent.
Strength in commodities helped offset some bearish sentiment
towards raw materials and energy shares,
with rebar and coke futures soaring around 5
percent and 7 percent respectively at one point.
(Reporting by Jackie Cai and John Ruwitch; Editing by Eric