Equities decline led by raw material firms

SHANGHAI: Mainland stocks fell, sending the Shanghai Composite Index below 3000 for the first time since Oct 30, as banks dropped on lending curbs and raw-material producers slid on concern a slowdown would hurt demand.

Industrial & Commercial Bank of China and China Construction Bank led declines in financial companies, the worst performing industry, after banks began restricting new loans.

Jiangxi Copper Co and Aluminum Corp of China Ltd, the biggest producers of copper and aluminum, slid more than 1.5 percent.