(Bloomberg) —Chinese shares fell for the fifth day in a row, the longest run of losses since August 2015, as a measure of developers tumbled on concern policy makers will boost efforts to curb speculators.

The Shanghai Composite Index dropped 1.4 percent to 3069.15 as of the 11:30 a.m. mid-day break. Shanghai New Huangpu Real Estate Co. paced declines on a property gauge, while China United Network Communications Ltd. dragged utilities lower. The ChiNext gauge of small-cap shares fell 1.8 percent to head for the lowest level since September 2015, while the Hang Seng China Enterprises Index in Hong Kong dropped 1.6 percent. The Hang Seng Index lost 1.2 percent, the most in a month.

The declines come amid efforts to clamp down on property prices and prevent a bubble, with Shanghai Mayor Yang Xiong saying Sunday that the city will strengthen regulation this year. China’s benchmark seven-day money-market rate climbed 13 basis points on Monday, the most in two weeks, amid increased demand for cash before the Lunar New Year holidays starting on Jan. 27.

“China’s policy bias to tighten the property market will continue,” said Ben Kwong, executive director at KGI Asia Ltd. in Hong Kong. “Investors will seek excuses to take profit on news that some local governments introduced new measures to prevent asset bubbles.”

The Shanghai Stock Exchange Property Index dropped 1.9% to head for a two-month low, with Gemdale and China State Construction Engineering Corp. each losing at least 1.9% China Life Insurance Co. fell 3% to lead declines on the Hang Seng Index; Cheung Kong Property Holdings Ltd. lost 2.6% and Sun Hung Kai Properties Ltd. retreated 1% Power Assets Holdings Ltd. jumped 3.3% to lead gains on the Hang Seng Index. The company said its board will decide on Jan. 26 whether to declare a special interim dividend of HK$5 per share Cheung Kong Infrastructure Holdings Ltd. rose 1.3%. The company agreed to buy Duet Group with a sweetened offer of A$7.4 billion ($5.5 billion) Sunac China Holdings Ltd. fell 6% after it announced a plan to invest $2.2 billion in three companies affiliated with Chinese tech tycoon Jia Yueting’s LeEco empire