China Stocks Fall for Second Day on Borrowing Clampdown Concern
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China’s stocks fell for a second day, sending the benchmark index to a one-week low, on concern inflows into equities will slow after some banks reduced leverage for trust products investing in shares.
Industrial & Commercial Bank of China Ltd. and China Life Insurance Co. dropped at least 1.9 percent to lead declines for financial shares. Shaanxi Coal Industry Co. plunged 6.3 percent as energy producers slumped after the Shanghai Securities News said the nation’s biggest coal-producing province won’t approve new mines for five years. Poly Real Estate Group Co. slid 3.6 percent to pace a retreat for developers.