China’s Stocks Extend Slump in Longest Streak Since 1994
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China’s stocks fell, with the benchmark index posting longest losing streak in almost two decades, as targeted fund injections by the central bank failed to alleviate the worst cash crunch since June.
China Construction Bank Corp. sank 6.2 percent after touching its lowest level in almost five years. China Everbright Bank Co. slid 4 percent in its debut in Hong Kong. Ping An Insurance (Group) Co. dropped 4.7 percent. The People’s Bank of China conducted short-term liquidity operations recently, it said on its microblog yesterday, without giving details of the recipients, amount or rate charged.