China's Stocks Slump Most in Three Weeks as Oil Producers Slide
- Energy shares led equity rebound over past three months
- Gains in home prices fueling concern about curbs, JK Life says
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Chinese stocks fell by the most in three weeks, led by energy producers and property developers, as oil tumbled and accelerating home prices sparked concern the government will act to cool the property market.
The Shanghai Composite Index fell 1.4 percent at the close. China Petroleum & Chemical Corp. lost 3 percent while Yanzhou Coal Mining Co. slid 2 percent. Crude slumped the most in two months in New York after talks between major oil producers ended in Doha without any agreement on limiting output. Average new-home prices rose 1.9 percent from February, when they advanced 0.6 percent, according to SouFun Holdings Ltd., the owner of China’s biggest property website.