source from：WSJ website
MARKETS
China Stocks Snap Seven-Day Winning Streak
Shanghai Composite Index finishes session below key 3000 level

By DOMINIQUE FONG
Updated March 22, 2016 4:46 a.m. ET
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China’s main stock market tumbled Tuesday below the psychologically important 3000 level, snapping a seven-day winning streak.


The Shanghai Composite Index fell 0.6% to close at 2999.36. The smaller Shenzhen Composite Index ended down 0.3% at 1880.78.


Elsewhere in the Asia-Pacific region, markets were mixed. Japan’s Nikkei Stock Average closed up 1.9% as the market resumed trading after a holiday observance Monday. South Korea’s Kospi ended up 0.4%, Australia’s S&P/ASX 200 closed unchanged, and Hong Kong’s Hang Seng Index closed down 0.1%.


With the exception of Japan’s, stock markets in Asia wavered as few investors seemed inclined to make big bets before the Good Friday holiday. The tepid session mirrored the quiet trading seen overnight in U.S. stocks.


“Globally, there is a lack of catalysts in the market,” said Frank Benzimra, head of Asia equity strategy at Société Générale. “Some of the markets in Asia…have very attractive valuations, but there’s not any catalyst to push them stronger.”


Japan shares were rising on a weaker yen against the U.S. dollar. The currency had depreciated during the market’s close, and its continued weakness during Asian trading hours Tuesday lifted shares of Japanese exporters. The yen recently traded at about 112 to the U.S. dollar.


In China, stocks fell after the People’s Bank of China attempted to clarify recent comments by its chief, Zhou Xiaochuan. Though Mr. Zhou had pledged to accelerate the development of China’s capital market, he wasn’t necessarily encouraging funds to rush into the market, according to a statement on the central bank’s official Weibo microblogging site.


A rebound in Chinese stocks would “largely depend on the March CPI [consumer-price index] data, which may spell the end of a liquidity-driven rally if inflation is on the rise,” said Guo Yanhong, an analyst at Founder Securities.


Chinese authorities guided the yuan weaker in the morning, a move that aligned with the overnight depreciation of currencies tracked by China’s central bank.


The Shanghai Stock Exchange also issued a delisting notice for Zhuhai Boyuan Investment, citing alleged securities rules violations, including exaggerating assets and profits in its financial statements and forging banker’s acceptance bills. The company’s last trading day is expected to be May 11. Analysts said the notice represented the first possible delisting from the exchange.


Chinese authorities guided the yuan weaker in the morning, a move that aligned with the overnight depreciation of currencies tracked by China’s central bank.


In Australia, stocks were essentially flat despite government data showing a slight increase in home prices in the fourth quarter from the previous quarter.


Asian markets also had little reaction to remarks by Federal Reserve Bank of Atlanta President Dennis Lockhart, who said Monday that improving U.S. economic data could point to an interest-rate increase as soon as April. Federal-fund futures, used by investors and traders to make bets on U.S. central bank policy, suggested Tuesday that they see a 7% chance of an increase next month.


—Ewen Chew and Yifan Xie contributed to this article.