China’s H-Share Index Retreats After Prices Reach 2008 High
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Chinese stocks trading in Hong Kong fell for the first time in nine days after the benchmark gauge’s rally sent valuations to the highest level since 2011.
China Merchants Bank Co. and New China Life Insurance Co. tumbled at least 6 percent. Tencent Holdings Ltd. sank the most in a year after its chairman cut his stake in the company. Hainan Airlines Co. jumped by the 10 percent daily limit in Shanghai on a plan to sell new shares in a placement.