China's shares fell from a record after nine days of gains. China Minsheng Banking Corp. led banks lower on concern the sale of Bank of Communications Co. shares in the domestic market will divert capital from existing bank stocks. “Bank of Communications is another big initial public offering in the A-share market, said Wang Zhewen, who helps manage $1.2 billion in Chinese stocks for Fortis NV in Shanghai, “Some funds will prepare for it.”

The benchmark CSI 300 Index of yuan-denominated A-shares, previously known as the Shanghai and Shenzhen 300 Index, lost 7.20, or 0.2 percent, to 3169.23 at the close. The gauge climbed nine days in a row, gaining 14.2 percent, before it fell. The index rose 6.6 percent this week.

Bank of Communications, known as Bocom, plans to raise as much as $3.4 billion selling 3.19 billion yuan-denominated shares in Shanghai, the Shanghai-based company said in a prospectus. The China Securities Regulatory Commission will review the application on April 16.

China Minsheng Banking Corp., the nation's fastest growing bank, declined 0.38 yuan, or 2.9 percent, to 12.54. Bank of China Ltd., the country's second-biggest listed lender, lost 0.07 yuan, or 1.2 percent, to 5.76. Industrial & Commercial Bank of China, the nation's biggest listed lender, fell 0.11 yuan, or 2 percent, to 5.45.

Consumer stocks such as Wuliangye Yibin Co. advanced on expectations sales will increase in a coming week-long holiday. ---------Consumer spending

“The May holiday is traditionally a boost for retail sales, and consumer spending on dining out,” said Fortis's Wang.

Suning Appliance Co., China's second-biggest home-appliance retailer, jumped 2.37 yuan, or 6.9 percent, to 36.90. Investors expect consumer spending to increase over the week-long holiday starting May 1.

Anhui Conch Cement Co., China's biggest maker of the construction material, rose 1.16 yuan, or 3 percent, to 40.02. The company said 2006 profit almost quadrupled after the company increased prices in the world's fastest-growing major economy.

S&P Pharmaceutical Industry Co., the medical and health-care products manufacturer, tumbled 2.38 yuan, or the 10 percent daily limit, to 21.42. The China Securities Regulatory Commission notified the company that it was being investigated because of an unusual share price movement, said S&P Pharmaceutical, in a statement to the Shanghai Stock Exchange, without giving further details. -------------S&P pharmaceutical

S&P's shares were suspended from trading starting March 12 after the stock surged 44 percent in the previous week. They resumed trading on March 27, when S&P announced plans to buy cable units worth about 6 billion yuan ($776 million) from Jiangsu Far East Group Co., which owns a 30 percent stake in the company as the biggest shareholder.

The Shanghai Composite Index, which tracks the bigger of China's stock exchanges, fell 0.4 percent to 3518.27. The Shenzhen Composite Index, which covers the smaller one, was little changed at 948.43.

Elsewhere, GD Power Development Co., the Shanghai-listed unit of one of China's five biggest electricity producers, added 0.09 yuan, or 0.7 percent, to 13.34. The company said first- quarter net income rose more than 50 percent, helped by increased output. Profit for the first three months of last year was 175.9 million yuan. (Source: Bloomberg)