DOMESTIC stocks fell for the third day today. Banks, property developers, and securities companies were among the decliners. PetroChina, the world's biggest oil refiner by market value, surged on its first day of trading on the Shanghai Stock Exchange.

The Shanghai Composite Index, which tracks both yuan-denominated A shares and hard-currency B shares, shed 2.48 percent, or 143.36 points, to close at 5,634.45 at 3pm today.

The Shenzhen Composite Index, which covers the smaller mainland stock market, declined 0.68 percent, or 75.28 points, to 1,377.20.

Among the stocks on the Shanghai Composite Index, 576 rose, 197 fell and 73 were unchanged.

Banks halted last week's rally and suffered while property developers were also among the decliners.

Industrial & Commercial Bank of China, the nation's biggest listed lender, was down 4.16 percent, or 0.36 yuan (5 US cents) to 8.29 yuan while Bank of China lost 3.88 percent, or 0.29 yuan, to 7.27 yuan today.

Minsheng Bank, the nation's only privately controlled lender, declined 0.18 percent, or 0.03 yuan, to 16.37 yuan.

China Vanke, the nation's largest publicly traded developer, shed 8.07 percent, or 3.15 yuan, to 35.90 yuan. Beijing North Star Co, the property arm of Beijing's city government, decreased 3.89 percent, or 0.47, to 11.62 yuan. Poly Real Estate Group Co also declined 4.79 percent, or 4.44 yuan, to close at 88.16 yuan.

Securities stocks suffered a bad day today after Xinhua News Agency reported that the securities regulator ordered mutual fund companies to limit their size.

Northern Securities plunged 8.22 percent, or 5.01 yuan, to close at 55.96 yuan while Haitong Securities also slid 7.31 percent, or 4.69 yuan, to 59.50 yuan.

Airlines and auto makers saw their stocks jump this morning after last week's losses over the country's fuel price hike.

Air China, the world's biggest airline by market value, added 2.18 percent, or 0.43 yuan, to finish the session at 20.11 yuan.

China Southern, the nation's biggest carrier, jumped 1.37 percent, or 0.28 yuan, to close at 20.74 yuan.

China Eastern, the nation's third-largest carrier, suspended trading of its yuan-denominated shares today, pending the completion of a deal with Singapore Airlines Ltd and Temasek Holdings Pte.

PetroChina Co skyrocketed 191 percent on its first day of trading on the Shanghai Stock Exchange from its initial public offering price of 16.70 yuan to reach 48.60 yuan at 9:30am today. The stock climbed 163.23 percent, or 27.26 yuan, to 43.96 yuan at 3pm.

The Beijing-based company raised 66.8 billion yuan from the sale of four billion shares in Shanghai, which was the world's biggest share sale this year, to expand its refineries and increase output at oilfields. That is the top end of the range offered.

PetroChina has surged more than 16-fold since its Hong Kong listing in 2000 as oil prices tripled and demand surged, making the company the world's largest by market value.

The stock has surged 78 percent this year, more than the 58 percent advance on Hong Kong's benchmark Hang Seng Index.