China’s Stock Index Drops, Extending Weekly Loss; Gree Declines

China’s benchmark stock index fell, extending its biggest weekly decline in a month, on concern a slowing property market will damp demand for products from cement to household appliances.

Anhui Conch Cement Co., the nation’s biggest maker of the building material, slid to a two-month low. Gree Electric Appliances Inc. and GD Midea Holding Co., the top two air-conditioner makers, fell more than 3 percent after Citic Securities Co. cut its rating on the industry. Tsingtao Brewery Co. paced gains by consumer-staples producers on optimism earnings will withstand an economic slowdown.