Chinese stocks fall ,liquor manufacturers climbed for second day

BEIJING, April 25 (Xinhua) -- Chinese shares fell for the second straight day on Monday, with the benchmark Shanghai Composite Index down 45.57 points, or 1.51 percent, to 2,964.95. The drop was led by resource shares.

The Shenzhen Component Index fell 200.41 points, or 1.58 percent, to 12,508.01.

Combined turnover rose to 243.77 billion yuan (about 37.5 billion U.S. dollars) from 237.93 billion yuan the previous trading day.

Losers outnumbered gainers 719 to 164 in Shanghai and 995 to 213 in Shenzhen.

Rare earth producers plunged on Monday after the Ministry of Industry and Information Technology capped the maximum quantity for the production and smelting of tungsten, tin, antimony, molybdenum and other rare earth ores in 25 provinces and autonomous regions.

Advanced Technology and Materials Co. fell by the 10-percent daily limit to 20.49 yuan per share. TDG Holding Co. retreated 4.57 percent to 14.61 yuan.

Steel and cement producers also dropped on concerns that high crude prices may slow economic growth, which may in turn curtail demand for steel and cement.

Hebei Iron and Steel Co., the country's largest steel producer, slumped 7.47 percent to 4.71 yuan while Baoshan Steel Co., China's second-largest steel producer, declined 2.73 percent to 7.12 yuan.

Bucking the trend, liquor manufacturers climbed after reporting good first-quarter results and giving upbeat views of their prospects.

Kweichow Moutai Co., a well-known liquor producer, gained 3.92 percent to reach 183.06 yuan per share after posting a 49 percent rise in its first-quarter profits of 1.88 billion yuan, while Jiangsu Yanghe Brewery Joint-Stock Co. rose 4.49 percent to reach 227.79 yuan.