Economics
China’s Stocks Drop for Eighth Day on Concern Over Funding Costs
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China’s stocks fell for an eighth day, capping the benchmark index’s longest losing streak since June, on concern higher funding costs will hurt economic growth. Financial, industrial and drug companies led declines.
China Minsheng Banking Corp. and Poly Real Estate Group paced a retreat for lenders and property developers with losses of more than 2 percent. China Shipbuilding Industry Co., a supplier to the country’s navy, slid to the lowest level in five weeks. Jiangsu Hengrui Medicine Co. plunged 2.9 percent, dragging down health-care companies.