China Stocks Fall to 6-Month Low as Imports Miss Forecast
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China’s stocks fell, dragging the benchmark index down to a six-month low, after a government report showed imports rose less than anticipated in June while export growth slowed.
Shenzhen Chiwan Wharf Holdings Ltd. led a decline for port operators as a gauge of export orders showed a contraction for the first time since January, suggesting that overseas shipments may slow in coming months. Poly Real Estate Group Co., the nation’s second-biggest developer, slumped 3.7 percent after forecasting lower first-half profit. PetroChina Co. rose the most in two months on speculation the energy producer’s shares are undervalued after plunging yesterday to a record low.