China’s stocks fell after some industrial companies reported slumping earnings and a major government ministry signaled the nation’s economic slowdown may worsen.
Tangshan Jidong Cement Co. dropped 1.9 percent in Shenzhen trading after it reported a wider first-quarter loss. Steelmaker Beijing Shougang Co. declined to a three-week low after it forecast a loss in the first half from a profit a year ago.
The Shanghai Composite Index slipped 0.2 percent to 2,383.22 at 9:50 a.m. local time. The CSI 300 Index declined 0.1 percent to 2,601.80.
China’s economic performance still faces downward pressure, the Ministry of Industry and Information Technology said in a statement ahead of a briefing in Beijing today. Chinese companies are seeing increasing operational difficulties, it said.