China stocks drop 2.4 pct as economy worries weigh

(Adds comments, individual stocks)

* Jittery investors quick to take profits in large caps

* Bounce from U.S. presidential election fades

* Reports of infrastructure plans boost construction shares

By Claire Zhang

SHANGHAI (Reuters) - China's main stock index ended 2.44 percent lower on Thursday as worries about global recession moved to the fore, spurring profit-taking by nervous investors in financial and coal shares that had rallied the previous day.

The benchmark Shanghai Composite Index .SSEC ended at 1,717.722 points, after rising 3.16 percent on Wednesday when the announcement of Barack Obama's win in the U.S. presidential election buoyed sentiment.

Turnover in Shanghai A shares shrank to 27.0 billion yuan ($4.0 billion) from Wednesday's one-week high of 37.4 billion. Losing Shanghai A shares outnumbered gainers by 704 to 207.

U.S. stocks plummeted on Wednesday, as a fresh batch of dismal economic data underscored the massive challenges awaiting Obama's administration, while worries mounted over U.S. payrolls numbers due on Friday.

Other Asian markets also dropped on Thursday, with the index of Asia-Pacific stocks outside Japan .MIAPJ0000PUS losing more than 7 percent.

Some analysts said investors were turning their attention to the faltering economy as the global markets' post-election euphoria faded.

"The U.S. elections offered only a short-lived bounce. Chinese investors are jittery and ready to grab profits at any time, given the economy's gloomy outlook," said Zhang Qi, analyst at Haitong Securities.

GIVING UP GAINS

PetroChina (601857.SS), the biggest stock in the index, fell 2.82 percent to 10.33 yuan, erasing its gain on Wednesday.

Financial shares were sluggish, with Industrial & Commercial Bank of China (601398.SS), the country's biggest bank, slipping 0.81 percent to 3.69 yuan.

Haitong Securities (600837.SS) tumbled 7.68 percent to 12.86 yuan, continuing a steep slide that wiped out 35 percent of its value in the previous four sessions. A lock-up of nearly 1.3 billion of its shares will expire in mid-November, local media have reported.

Coal shares slumped, with China Shenhua (601088.SS) dropping 3.87 percent to 17.37 yuan after jumping 5.18 percent on Wednesday.

Property shares were weak. China Vanke Co (000002.SZ), the country's largest property developer, slid 3.62 percent to 5.59 yuan after gaining 5.45 percent on Wednesday.

Construction-related shares surged for a second day after local media reports that the Ministry of Transport planned to invest 5 trillion yuan in roads, waterways, harbours and other infrastructure over the next three to five years to boost domestic consumption.

Cement shares outperformed, with Taihang Cement (600553.SS) jumping its 10 percent daily limit for a second straight session to 2.86 yuan.

Steel shares were also boosted by the plan, with Guangzhou Steel (600894.SS) racing up its 10 percent daily limit to 2.49 yuan, while Baoshan Iron & Steel (600019.SS) gained 2.23 percent to 4.59 yuan.

Analysts said the reported infrastructure spending plan would provide a major boost to domestic demand but some doubted whether the government would actually commit such a large sum of money.

North China Pharmaceutical (600812.SS) ended up 0.63 percent at 4.78 yuan in volatile trade, after saying it would cut the price and volume of a planned private placement of shares.

($1=6.82 Yuan)

(Editing by Edmund Klamann)