China’s Stocks Decline Most in Two Weeks on Economic Concerns
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China’s stocks fell, dragging the benchmark index down by the most in two weeks, as an unexpected drop in auto sales and a jump in money-market rates deepened concerns about the economy.
SAIC Motor Corp. led declines for automakers after Chinese vehicle sales shrank for the first time in eight months. Jiangxi Copper Co., the biggest producer, retreated 1 percent as Goldman Sachs Group Inc. said Chinese copper and aluminum demand is set to plunge by 2014. Shanxi Lu’an Environmental Energy Development Co Ltd. paced declines for coal producers after the government ordered output growth limits.