Pursuits
China’s Stocks Drop as Policy Speculation Eases; Yibin Slumps
This article is for subscribers only.
China’s stocks fell, following the benchmark index’s biggest gain in three weeks, as waning speculation of lower bank reserve requirements overshadowed an increase in a manufacturing gauge.
Wuliangye Yibin Co. slumped to the lowest level since July 2010, leading liquor makers lower after Xinhua News Agency cited China’s quality watchdog as saying samples made by JiuGuiJiu Co. contain excessive levels of plasticizer. JiuGuiJiu has been halted from trading this week. Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co., sank the most in a week after saying it will continue to halt output at some smelting units.