Shares fall for third consecutive day to lowest level in October

Stock markets in the Chinese mainland fell for a third consecutive day Thursday to the lowest level seen in October, with a slump in free trade zone-related stocks dragging down the markets.

The benchmark Shanghai Composite Index dropped 4.53 points or 0.21 percent to close at 2,188.54 points on Thursday. The Shenzhen Component Index fell by 21.67 points or 0.25 percent to 8,521.20.

Combined turnover on the two bourses was 237.2 billion yuan ($38.89 billion). down from Wednesday's 278.51 billion yuan.

After the US reached an agreement on its debt ceiling Wednesday and reopened the government, which had been closed since October 1, shares rose in most Asian markets, including Japan, South Korea, Singapore, Malaysia, Thailand, and Indonesia.

One day ahead of the Chinese government's announcement of much-anticipated third-quarter GDP figures on Friday, investors sold shares in so-called thematic investments, especially in companies linked to the Shanghai free trade zone.

Shanghai Oriental Pearl (Group) Co plunged 10.01 percent or 1.23 yuan to 11.06 yuan, while Shanghai Lujiazui Finance & Trade Zone dropped by 6.01 percent or 1.37 yuan to 21.42 yuan, having fallen by 15.64 percent since Monday.

The CSI 300, which tracks China A-share markets in Shanghai and Shenzhen, fell by 8.04 points or 0.33 percent to 2,413.33 points Thursday.

The CSI 300 Energy Index was the only one of 10 sub-indexes to rise. It inched up by 0.93 percent backed by coal companies, with shares in Shenhua Energy Co jumping 1.7 percent to 16.74 yuan Thursday on strong sales figures in September and high fuel prices. Datong Coal Industry Co also rose 2.3 percent to 6.60 yuan.

ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, fell by 0.91 percent or 12.11 points to close at 1,322.99 points on Thursday, following a heavy drop of 3.9 percent on Wednesday.