China Stocks Fall Most in Three Weeks on Bets Yuan Will Weaken
- Industrial firms, small-cap shares lead losses on mainland
- Investors also worried about state fund sell-off: Jinkuang
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Chinese stocks dropped the most in three weeks, led by industrial companies and small-cap shares, amid concern that a weaker yuan will limit prospects for further stimulus and state-backed funds will sell shares.
The Shanghai Composite Index declined 0.8 percent at the close. Beijing Originwater Technology Co. posted its biggest loss since February. Hong Kong’s Hang Seng Index rose 0.3 percent, reversing a loss of as much as 0.6 percent. The ChiNext gauge of small-cap companies slid the most since July 27.