Breaking News

Tweet TWEET

China’s Shanghai Composite Index Drops as Commodity Stocks Fall

China’s stocks fell for a third day on concern the nation’s economic slowdown is deepening, overshadowing the central bank’s second interest-rate cut in a month.

The Shanghai Composite Index slipped 5.9 points, or 0.3 percent, to 2,195.40 at 10:33 a.m. local time, erasing a gain of as much as 0.4 percent. The CSI 300 Index lost 0.1 percent to 2,429.21, led by energy and material companies. China Vanke Co. surged 2.7 percent and property developers rallied on the prospect lower borrowing costs will stimulate housing demand. China Construction Bank Corp. fell 1 percent on concern bank net interest margins will narrow, hurting earnings.

To contact the editor responsible for this story: Allen Wan at awan3@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.