Pursuits
China Stocks Cap Longest Weekly Losing Streak in Two Years
- H-share index falls 10% from April high, poised for correction
- Investors wary before industrial output data, strategist says
A view of the Lujiazui Financial District in Pudong.
Photographer: Johannes Eisele/AFP via Getty ImagesThis article is for subscribers only.
Chinese stocks fell for a fourth week, capping the longest string of losses in two years, as metal prices dropped and the yuan weakened amid concern the government will hold off from new stimulus even as growth falters.
The Shanghai Composite Index slid 3 percent this week, led by energy and material companies. The Hang Seng China Enterprises Index dropped 10 percent from the April high, entering a so-called correction. Data on new loans and aggregate financing released after the market close trailed analyst estimates. Reports on industrial production and retail sales are scheduled for Saturday. The yuan weakened to the lowest level in two months in Hong Kong.