China's shares slipped 0.46 percent on Thursday, with large-cap stocks such as China United Telecommunications Corp Ltd leading the decline. The benchmark Shanghai composite index closed at 1,102.589 points. It hit an intraday low of 1,099.134 points, just shy of its low this year of 998.228, hit on June 6.
China Unicom, the smaller of the country's two mobile phone operators, fell 2.11 percent to 2.78 yuan. The share had gained nearly 8 percent since July 1.
Wuhan Iron and Steel Co Ltd, the listed arm of the country's third largest mill, shed 1.36 percent to 3.64 yuan after closing higher for two consecutive trading days this week.
Merchants Bank Co Ltd, the top domestic listed lender, eased 1.33 percent lower to 6.66 yuan after jumping over 13 percent since the beginning of last month.
China Southern Airlines, the country's biggest carrier by fleet size, was among the few gainers. It rose 3.62 percent 2.86 yuan, extending a 1 percent gain in its previous session.