Economics
China Property Shares Drag CSI 300 Down Most in 2 Years on Curbs
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China’s stocks plunged, dragging down the CSI 300 Index by the most in two years, after the government ordered more measures to cool property prices and growth in the nation’s services industries slowed.
The CSI 300, representing the nation’s biggest companies in the Shanghai and Shenzhen stock exchanges, fell 4.6 percent to 2,545.72 at the close, the most since November 2010, while the Shanghai Composite Index slid 3.7 percent to 2,273.40, the most since August 2011. China Vanke Co., the nation’s largest property developer, led a gauge of real-estate companies to the steepest tumble since June 2008. Anhui Conch Cement Co. and Sany Heavy Industry Co. dropped by more than 8 percent.