China's Stocks Fall as Industrial Profits Fail to Lure Traders
- Shanghai Composite Index drops 0.4% as trading volumes slump
- Industrial profits jump 11.1% in March, most since July 2014
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Chinese stocks fell as a jump in industrial companies’ profits failed to shake the market out of its doldrums.
The Shanghai Composite Index slipped 0.4 percent at the close in trading volumes that were 38 percent below the 30-day average. Consumer-discretionary companies led declines, while material shares extended losses after commodity exchanges intensified efforts to curb speculation in futures contracts. Data showed industrial profits surged 11.1 percent in March.