China’s Stocks Fall for Second Day, Led by Industrial Companies
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China’s stocks fell for a second day, led by financial and industrial companies, after valuations reached the highest level since May. Gross domestic product and industrial output data are due to be released tomorrow.
North Navigation Control Technology Co. dropped by the 10 percent daily limit after gaining 64 percent during an eight-day rally. China Life Insurance Co., the nation’s biggest insurer, declined to the lowest level this year after Credit Suisse Group AG cut its recommendation on the stock. China Railway Group Ltd., the nation’s biggest construction company by total assets, slumped 1.8 percent after rallying 13 percent since Dec. 3, when the nation’s benchmark indexes approached four-year lows.