China’s Stocks Drop for Second Day on Inflation Concern, Ping An

China’s stocks fell for a second day on speculation the central bank will intensify measures to fight inflation and after Citic Securities Co. said Ping An Insurance (Group) Co. may need to raise up to 40 billion yuan ($6 billion).

Ping An, China’s second-biggest insurer, slid the most in two months after Citic, the largest brokerage, said the fundraising may cut earnings per-share by up to 15 percent. PetroChina Co. and China Shenhua Energy Co., the biggest producers of oil and coal, led energy stocks lower after the central bank governor said inflation pressures are rising. GD Midea Holding Co., the second-biggest publicly traded appliance maker, added 1.7 percent after forecasting higher profit.