Chinese shares dip to near four-year low (2)

Expectations for an increase in stock supply also dragged down share prices.

More than 180 billion yuan of shares that investors are restricted from unloading in 96 listed firms will become eligible for sale next month, according to statistics from Southwest Securities.

Investors were also jittery about a growing queue of companies waiting to get a greenlight for listing, which would further strain market liquidity.

Altogether 808 companies were applying for launching initial public offerings as of Nov. 22, according to data from the China Securities Regulatory Commission.

Green businesses, media firms and machinery sectors led the decline on Tuesday, while banks bucked the trend.

The share price of China Mingsheng Banking Corp. Ltd. rose 1.3 percent to close at 6.22 yuan. Bank of Communications edged up 0.24 percent to 4.18 yuan.

Jiugui Liquor, the subject of tests indicating excessive plasticizer content in its products, declined by the daily limit of 10 percent for a third consecutive trading day to 34.69 yuan.

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