China Stocks Fall as Industrials Bear Brunt of Economic Concerns
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China’s stocks fell amid concern the government’s efforts to make domestic consumption and services a bigger part of the economy won’t be fast enough to offset sluggish demand for industrial goods and commodities.
The Shanghai Composite Index declined 0.5 percent to 3,455.50 at the close, erasing a gain of as much as 0.9 percent. Industrial and material companies posted the steepest losses among sectors, with Metallurgical Corp. of China and China Minmetals Rare Earth Co. sliding more than 4 percent. Data this week showed China’s factory-gate prices dropping for the 45th straight month.