China Stocks down for second day

Mainland China stock market ended modest down on Wednesday, 11 January 2017, registering second day of falling streak, on increasing worries about liquidity crunch after faster approvals for initial public offerings (IPO) and increasing issuance of additional shares by listed companies. China's securities regulator had approved 14 IPO applications on Friday, which were expected to rise up to 4.8 billion yuan. The blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, fell 0.7% to close at 3,334.50. The Shanghai Composite Index fell 0.8% to close at 3,136.75. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.05% to 1968.43. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, shed 0.72% to 1,937.55 points.

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