Dealers said the response to individual company plans to dispose of their state-owned, non-tradable shares has been very mixed and opportunistic, with investors doubly disappointed the government has not come up with a bailout fund to help the market.
The Shanghai A-share Index tumbled 26.67 points to 1,108.46, while the Shenzhen A-share Index was down 9.06 points at 260.11. The benchmark Shanghai Composite Index, which covers both A and B-shares, shed 25.34 points at 1,055.59.
Australian share prices closed 0.11 percent lower as profit-taking and weaker oil stocks took the market off the record highs it reached earlier in the week.
The SP/ASX 200 index ended down 4.9 points at 4,272.6 on relatively light volume.
In Singapore share prices closed 0.12 percent lower on slight profit-taking ahead of the weekend. The Straits Times Index fell 2.71 points to 2,209.95.
Malaysian share prices closed 0.64 percent higher in mixed trade after a last minute rush to buy blue chips and other index-linked stocks, dealers said.
The composite index rose 5.70 points to 894.02.
In Jakarta share prices closed 1.48 percent higher on a rebound led by blue chips such as Telkom as foreign investors returned to the market to look for bargains. The composite index was up 16.612 points at 1,138.988.
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