Mainland markets decline after release of disappointing data

Stock markets in the Chinese mainland remained weak on Thursday amid a slowdown in growth of industrial profits.

The benchmark Shanghai Composite Index inched down by 17.08 points or 0.83 percent to 2,046.59 points on Thursday. The Shenzhen Component Index declined by 71.17 points or 0.98 percent to 7,173.02 points.

Combined turnover on the two bourses on Thursday was 202.47 billion yuan ($32.58 billion), up from the previous trading day's 178.26 billion yuan.

Thursday's fall came after the release of industrial profit data by the National Bureau of Statistics (NBS). Profits for Chinese industrial enterprises rose by 9.4 percent year-on-year in the first two months this year, according to the NBS, lower than the growth rate of 12.2 percent in the same period last year.

Meanwhile, banks gained in afternoon trading, following rumors that the People's Bank of China, the central bank, might loosen its reserve requirement ratio for lenders.

China Minsheng Banking Corp led the gains, rising by 3.58 percent to 7.92 yuan.

Real estate developers and Hebei Province-based companies also ended higher on Thursday.

The Hebei government issued a document about the province's urbanization plan on Wednesday. Four Hebei-based stocks including Tangshan Port Group rose by the daily limit of 10 percent on Thursday.

ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, saw a big fall of 49.65 points or 3.50 percent to 1,367.96 points on Thursday.

The decrease in the ChiNext board was led by media stocks and recently listed companies. Huayi Brothers Media declined by 4.29 percent to 24.83 yuan.

Six ChiNext stocks, including YLZ Information Technology Co and Chengdu Geeya Technology, dropped by the daily limit of 10 percent.