The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, lost 53.76, or 1.9 percent, to 2,781.40 at 3 p.m. close. The CSI 300 Index fell 2 percent to 3,099.71.
Developers: China Vanke Co. (000002 CH), the nation’s largest developer, fell 2.9 percent to 8.75 yuan. Gemdale Corp. (600383 CH) dropped 1.2 percent to 6.50 yuan.
China raised the benchmark one-year lending rate by 25 basis points to 5.81 percent and the one-year deposit rate by the same amount to 2.75 percent, effective Dec. 26, the People’s Bank of China said Dec. 25.
Guizhou Panjiang Refined Coal Co. (600395 CH) rose 6.8 percent to 30.85 yuan, the highest close since Dec. 16, 2009, after central government-owned companies signed 47 contracts worth a total of about 300 billion yuan with the southwest province of Guizhou.
China Eastern Airlines Corp. (600115 CH), the nation’s second-largest carrier, retreated 5.7 percent to 6.59 yuan, the lowest since July 8. The carrier on Dec. 24 said 860 million shares will become tradable today.
Shanghai Lengguang Industrial Co. (600629 CH) rose 1.9 percent to 13.75 yuan, the biggest gain since Dec. 13. The company said a unit plans to invest 150 million yuan to build a plant to make wind-turbine blades in eastern Jiangsu province.