The blue-chip CSI300 index fell 0.4% to 4,896.44, while the Shanghai Composite Index lost 0.2% to 3,584.18 points.
Real estate developers and insurers lost 0.9% and 0.3%, respectively.
Chinese regulators will look into investment activities of insurers which were beyond the allowed investment scope, including those invested into commercial real estates projects, and into unlisted property developers, a state-backed media outlet reported on Thursday.
The media sub-index dropped nearly 3%, led by a slump in metaverse-related stocks, which have surged in recent months on speculative trades.
The coal sub-index, the new energy sub-index , and the automobiles sub-index dropped more than 1.2% each.
Semiconductors rose 1.2% after China’s banking and insurance regulator said on Wednesday that lenders should step up support to advanced manufacturers, self-reliant industries and supply chains.
The U.S. government put a dozen Chinese companies on its trade blacklist on Wednesday for national security and foreign policy concerns, including some Chinese semiconductor firms.
The education industry sub-index surged 3%, as China stepped up efforts to develop its vocational education.
