Finance companies lead drop in stocks

SHANGHAI: Mainland stocks dropped on the first trading day after a weeklong break as financial companies fell after the central bank ordered lenders to set aside larger reserves, countering gains by Fujian-based companies.

China CITIC Bank Corp, the banking unit of the nation's largest investment company, slid 1.7 percent. Poly Real Estate Group Co and Gemdale Corp retreated at least 1.5 percent as Goldman Sachs Group Inc reduced share-price estimates for property companies.

Fujian Cement Inc led gains among stocks based in the southeastern province as President Hu Jintao called for the faster development of a Fujian economic zone.