Pursuits
China Stocks Drop to Lowest Since 2009 on Consumer Staples Rout
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Chinese stocks fell, dragging the benchmark index to its lowest level in almost four years, as liquor makers and coal producers plunged.
A gauge tracking consumer-staple companies sank the most in three years. Kweichow Moutai Co., the world’s second-largest distiller by market value, tumbled the most since 2008 on concern demand for high-end liquor is decreasing. Datong Coal Industry Co. dropped 4.1 percent after the benchmark price for thermal coal decreased. The declines overshadowed data showing a manufacturing gauge rose to a seven-month high.