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1st LD-Writethru: Chinese shares fall for fourth consecutive day

Xinhua, May 5, 2017 Adjust font size:

Chinese stocks fell for the fourth day in a row Friday amid worries of tightening financial regulation and economic contraction.

The benchmark Shanghai Composite Index fell 0.78 percent to end the day at 3,103.04 points.

The smaller Shenzhen Component Index closed 1.21 percent lower at 10,024.44 points. The ChiNext Index, China's NASDAQ-style board, ended 1.08 percent lower to close at 1,818.19 points.

Both official and private surveys showed that the country's manufacturing and service activities eased expansion in April, partly due to recent tightening of financial regulation.

China's financial regulators have been stepping up efforts to tighten regulation on financial risks and the momentum continued this week despite soft initial economic indicators.

China's securities watchdog pledged more efforts to prevent risks, saying that "no hidden risks will be neglected" while highlighting the balance between a stable capital market and strengthened supervision.

Shares related to airports and media led the gains while those related to coal, large aircraft and securities traders lost ground. Endi