China Stocks Cap Weekly Loss as Volatility Drops to 20-Month Low
- Market undergoing a short-term correction: Jinkuang strategist
- CGN Power and Shenhua retreat after denying merger report
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Chinese stocks capped their first weekly decline in a month, sending a measure of price swings to its lowest level since 2014, as consumer and energy companies retreated.
The Shanghai Composite Index declined 0.9 percent to 3,012.82 at the close, taking losses this week to 1.4 percent. Spirits maker Luzhou Laojiao Co. paced consumer staples lower, while Yanzhou Coal Mining Co. led energy companies down amid concern U.S. crude’s recent drop below $45 a barrel will weaken demand for alternative fuels such as coal. The Hang Seng Index decreased after entering a bull market on Thursday.