Compiled by Caijing staff

(Caijing.com.cn) Chinese equities fell on Sept. 29, as real estate, steel and entertainment companies pushed the Shanghai Composite Index down 0.33 percent to 2,754.54 points.

Liquidity continued to be a concern after the first 10 Growth Enterprise Market listing candidates raised 784.1 billion yuan from share subscriptions, keeping a large quantity of investible funds away from the market.

Investors also remained cautious a day ahead of an eight-day shutdown of the stock exchanges for the National Day holiday, which starts on Oct. 1. Turnover in Shanghai fell to a seven-month low of 76.7 billion yuan. Losers led gainers four to one.

"Many people from the big institutions have gone on vacation already," said Lu Zhenning, analyst at Guangzhou Securities. "There is not likely to be any big movement in the market before the holidays."

The Shenzhen Component Index was down 0.16 percent at 11,069.28 points, with losers leading gainers five to one.

Turnover was about 44.5 billion yuan, below the five-day average of 53.9 billion yuan.

Xinjiang Huitong Group Co. (SZSE: 000415), an Urumqi-based developer and construction contractor, fell 1.19 percent to 6.62 yuan, after it forecast third quarter profit to fall by up to 85 percent quarter-on-quarter.

However, Zhongtian Urban Development Group Co. (SZSE: 000540), a Guizhou province-based property developer, surged 3.83 percent to 15.71 yuan, after forecasting a rise in nine months net profit of 300 to 350 percent year-on-year.

Steelmakers retreated after China Iron & Steel Association said that inventories remained at high levels and the industry did not see a "meaningful slowdown" in production during September. Tangshan Iron & Steel Co. (SZSE: 000709), which recently won approval to merge with two rivals to form the largest steelmaker in China by production, fell 2.71 percent to 6.1 yuan.

Investors took a negative view of entertainment shares, with Guangdong Alpha Animation and Culture Co. (SZSE: 002292), the only listed domestic comics company, slumping 7.91 percent to 39.58 yuan.

Anhui Jianghuai Automobile Co. (SSE: 600418) gained 1.01 percent to 8.04 yuan, after signing a framework agreement with NC2 Global LLC, a joint venture between Caterpillar and Navistar, on Sept. 28 to set up a 50-50 joint venture to produce and sell trucks and parts.

"Stocks are relatively cheap right now," said Guangzhou Securities' Lu. "With the heavyweight financial sector below the average valuation in the past five years, we think the market will look for support in the near term."  

Wang Junqing, an analyst with Guosen Securities based in Shenzhen, said: "Stocks could get a boost from the September economic data," which will be released starting from Oct. 11, which might be a "turning point" for Chinese equities.

1 yuan = 14 U.S.cents