Economics
China’s Stocks Drop Most in a Week on Concerns About Economy
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China’s stocks fell, dragging down the benchmark index by the most in a week, on concern the economic slowdown is deepening after auto sales missed analysts’ estimates and Macquarie Group Ltd. cut its growth estimates.
Anhui Conch Cement Co. and Sany Heavy Industry Co. led declines for infrastructure-related companies on speculation the shares are overvalued after both companies rallied 16 percent in three days. FAW Car Co., which makes passenger cars in China with Volkswagen AG, sank 2 percent after passenger-vehicle sales trailed analysts’ estimates for a second month in August and the government increased gasoline and diesel prices for the second time in about a month.