China Stocks Drop for Second Day as Curbs Hurt Property Shares
- Shanghai index hovers around 3,000 level before economic data
- Manufacturing report may show pickup from previous month
China Outlook: What's Ahead for the Markets?
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China’s stocks fell for a second day, paring this month’s advance, as a gauge of small companies slumped and property developers extended losses amid concern new price-cooling measures will hit sales.
The Shanghai Composite Index slid 1.3 percent. Poly Real Estate Group. dropped to the lowest level in a month, dragging down a gauge of developers. The small-cap ChiNext index plunged the most in three weeks. The Hang Seng China Enterprises Index rose for the first time in four days as trading resumed in Hong Kong after a two-day holiday.