Pursuits
China’s Stocks Drop for Fifth Day on Property Slowdown Concerns
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China’s stocks fell, sending the benchmark index to a fifth day of losses, amid concern declining property investment and slowing overseas demand for exports will hurt the nation’s economic growth.
Building-material makers Huaxin Cement Co. and Baoshan Iron & Steel Co. lost at least 0.6 percent after Citigroup Inc. said property investment may be cut back “significantly.” Jiangxi Copper Co. and Zhuzhou Smelter Group Co., China’s biggest producers of copper and zinc, fell as metal prices slid. Kweichow Moutai Co. rose after Shenyin & Wanguo Securities Co. said the liquor maker may raise product prices.