China stocks fell the most in nearly two weeks on Thursday, as China Unicom tumbled after rallying earlier in the week as excitement over state enterprise reforms cooled. Investors were also cautious as the Shanghai benchmark neared the 3,300-point-mark, a level that has proven to be a stiff hurdle with three failed attempts to breach it over the past nine months.
The blue-chip CSI300 index fell 0.6 percent, to 3,734.65, while the Shanghai Composite Index lost 0.5 percent to 3,271.51 points. After a calmer morning session, sentiment soured as China Unicom extended its losses in afternoon trading, down nearly 7 percent at close. The stock spiked by its daily limit of 10 percent on Monday and Tuesday, before slipping 0.9 percent on Wednesday.