Pursuits
China’s Stocks Fall to One-Week Low as Valuation Concerns Mount
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Chinese stocks fell to a one-week low, led by consumer-staple and financial shares, amid mounting concerns over equity valuations approaching the highest levels in eight months.
Poly Real Estate Group Co. declined among financial stocks, the biggest drag on the CSI 300 Index after valuations climbed to a 10-month high. Liquor maker Kweichow Moutai Co. sank 2.9 percent after forecasting profit that missed some analyst estimates. Goertek Inc., an Apple Inc. supplier, dropped to a five-week low after the U.S. company’s shares slumped on earnings. Yunnan Baiyao Group Co., which makes traditional Chinese medicine, led health-care stocks higher.