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Most Chinese Stocks Drop, Led by Consumer Staples; Banks Climb

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Jan. 22 (Bloomberg) -- Most Chinese stocks dropped as losses for consumer-staples producers and drugmakers overshadowed gains for banks.

About two shares declined for every one that advanced on the Shanghai Composite Index, which rose 0.1 percent to 2,330.32 at the 11:30 a.m. local time break. The CSI Index added 0.3 percent to 2,617.45. Stock indexes erased losses after the official Xinhua News Agency reported China Securities Regulatory Commission Chairman Guo Shuqing as saying that it’s necessary to intervene in the stock market at “key moments.”

To contact the editor responsible for this story: Allen Wan at awan3@bloomberg.net

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