Stocks in mainland China declined, approaching a 14-month low as investors sold consumer-related stocks and chip makers. Some video-gaming stocks stemmed losses after the industry regulator approved the biggest batch of new titles in 17 months.
The Shanghai Composite Index fell 0.7 per cent to 2,898.88 on Tuesday, near the lowest since October last year. The CSI 300 Index of the nation’s biggest companies dropped 0.7 per cent. Hong Kong’s financial markets are closed for a holiday.
Top liquor distiller Kweichow Moutai weakened 0.1 per cent 1,670.99, peer Wuliangye Yibin retreated 0.2 per cent to 134.32 yuan and Shanxi Xinghuacun Fen Wine Factory lost 0.8 per cent to 224.97 yuan. China biggest chip maker SMIC fell 2.2 per cent to 51.85 yuan, StarPower Semiconductor tumbled 2.3 per cent to 171.25 yuan while Cambrian slipped 2.7 per cent to 132.50 yuan.
