皇冠体育app

The mainland stocks fell for the first time in three days as the market replaced Japan as the world's second-largest by value, raising concern the rally has overvalued the prospects for earnings growth.

"皇冠体育app's market has sort of a bubble as the economy is still about a third smaller than Japan's," said Zhang Ling, who helps oversee about $7.21 billion at ICBC Credit Suisse Asset Management Co. "Even if growth in 皇冠体育app is much faster than Japan, it will still take years to catch up."

The Shanghai Composite Index retreated 4.81, or 0.15 percent, to 3183.74 at the close, after swinging between gains and losses five times. More than two stocks fell for each that rose.