HONG KONG: Mainland Chinese shares posted their fourth-straight daily loss on Thursday with brokerages leading a reversal of midday gains after local media reported that the sector could be hit by cuts in fees.
The CSI300 Index of the top Shanghai and Shenzhen listings closed down 0.6 percent at 2,115.7 points, while the Shanghai Composite Index fell 0.5 percent to 1,963.5, lingering at its lowest closing levels since January 2009.
The 21st Century Business Herald newspaper reported on its website that there has been some discussion by key players in the brokerage industry of a 20 percent reduction in broker commission fees.
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