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DOMESTIC stocks fell from a record after the Financial Times reported that the nation's social security fund was reducing its equity holdings. China Minsheng Banking Corp declined.
Gao Xiqing, vice chairman of the National Council for Social Security Fund, said China's stock prices are "defying gravity'' and the fund is selling stocks, the newspaper reported.
The Shanghai Composite Index, which tracks the bigger of domestic stock exchanges, slid 0.61 percent to 3759.87 at the close. The Shenzhen Composite Index, which covers the smaller one, fell 8.57 to 1048.48, according to Bloomberg.
Minsheng Banking, the nation's first privately controlled lender, lost 0.31 yuan, or 2.3 percent to 13.06 yuan. China Merchants Bank Co, the country's third-biggest publicly traded lender, slid 0.54 yuan, or 2.7 percent, to 19.50 yuan.
China Vanke Co, the nation's largest property developer, declined 0.61 yuan, or 3.3 percent, to 17.95 yuan. Daqin Railway Co, the operator of China's biggest coal transport network, retreated 0.55 yuan, or 3.6 percent, to 14.73 yuan.
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