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SHANGHAI: Mainland stocks fell, as concern the government will curb lending spurred declines by developers and overshadowed gains by commodity producers.

The Shanghai Composite Index fell 6.65, or 0.2 percent, to close at 2,934.71, the lowest since Oct 12. The gauge gave up gains of as much as 1.7 percent and moved into negative territory in the last half hour of trading. The CSI 300 Index fell 0.2 percent to 3,146.19.

"Any rebound is seen as a good opportunity to sell," said Dai Ming, a fund manager at Shanghai Kingsun Investment Management & Consulting Co. "As long as concern about tightening persists, any gains are unlikely to be sustained."