Economics
China Stocks Fall for Second Day as Property Developers Retreat
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Chinese stocks fell for a second day, led by real estate companies and commodity producers, amid concern increasing home prices will limit room for the government to spur economic growth.
A gauge tracking developers slid 1.7 percent. House prices in Beijing, Shanghai and Guangzhou rose the most since at least January 2011 last month from a year earlier, official data showed. The government may expand a tax on property purchases, Xinhua News Agency said yesterday. Yunnan Tin Co. and Jiangxi Copper Co. retreated more than 2.5 percent. The International Monetary Fund said risks are increasing that China’s growth this year will fall short of the lender’s forecast.