SHANGHAI: China stocks fell on Thursday, with energy and infrastructure companies weaker after a price correction this week and as investors remained cautious ahead of the Lunar New Year.The blue-chip CSI300 index fell 0.3 per cent, to 3,329.29 points, while the Shanghai Composite Index lost 0.4 per cent to 3,101.30 points.The retreat was led by big-cap state-owned enterprises (SOE), in particular China United Network Communications , seen as a key barometer of the SOE reform theme.China United Network Communications slumped 5.1 per cent to near a two-month low. The stock has retreated 22 per cent from a 16-month high in late December.Investors remained cautious as many participants expected the sharp rally on Tuesday to be short-lived ahead of the Lunar New Year holiday , when trading could be thin give low participation and expectations of tighter liquidity in the country's financial system.The onshore overnight implied deposit rate for yuanjumped to 22.035 per cent on Wednesday, the highest since data became available in April 2007. On Tuesday, the rate ended at 4.357 per cent.Most sectors lost ground, led by energy and infrastructure shares China's start-up index ChiNext, in the spotlight after it suffered sharp falls recently, was basically flat for the day.

Source: Economic Times January 19, 2017 07:35 UTC