Equities decline led by consumer firms

SHANGHAI: Mainland stocks dropped for a second day, led by consumer companies and commodity producers, as investors speculated new share sales will divert funds from existing equities and metals prices declined.

Suning Appliance Co fell 2.5 percent to 19.55 yuan after getting approval for a stock placement. Aluminum Corp of China Ltd, the nation's biggest maker of the lightweight metal, lost 1.9 percent to 15.86 yuan and Jiangxi Copper Co slid 1.4 percent to 41.2 yuan.

China Shipbuilding Industry Co rose 12 percent from its offer price to 8.3 yuan on its first day of trading, Shanghai's second-worst debut this year.