China’s Stocks Resume Decline as Turnover Wanes on Intervention
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China’s stocks dropped for the fourth time in five days as turnover waned and concern grew that government intervention is driving away investors.
The benchmark Shanghai Composite slid 1.7 percent to close at 3,694.57 after changing direction more than 10 times. Volume was 35 percent below the 30-day average. Technology and phone stocks led declines, with Leshi Internet Information & Technology (Beijing) Co. and ZTE Corp. losing more than 2 percent.