Tongling Nonferrous Drops After Chairman Death: Shenzhen Mover
This article is for subscribers only.
Tongling Nonferrous Metals Group Co., the nation’s second-largest copper smelter, slumped the most in three months in Shenzhen as authorities started an investigation into the death of the company’s chairman.
The shares slid 4.1 percent at the 11:30 a.m. break, the biggest loss since March 10. The Shenzhen Composite Index dropped 0.5 percent. Company chairman Wei Jianghong fell from a building at about 11 a.m. yesterday, the company said in a statement to the Shenzhen Stock Exchange. Wei, 52, was also a delegate to the National People’s Congress, China’s top legislative body, according to the company’s 2013 annual report.