Stocks on the Chinese mainland fell, dragging the Shanghai Composite Index from a two-week high, as the government damped speculation of a large-scale stimulus program to revive economic growth.

Anhui Chaodong Cement Co and Hebei Iron & Steel Co paced losses among building-material makers after Xinhua News Agency reported the nation has no plans to introduce stimulus measures on the scale deployed during the 2008 global financial crisis. Sany Heavy Industry Co, China's biggest machinery maker, dropped 0.9 percent. The company was said to cut the size of a share sale in Hong Kong. Gemdale Corp advanced 1 percent as JPMorgan Chase & Co recommended real-estate stocks.

The Shanghai Composite Index fell 0.2 percent to 2,384.67 at the close. The gauge climbed 2.4 percent in the past two days to its highest level since May 11. The CSI 300 Index retreated 0.3 percent to 2,642.26.