Most Chinese Stocks Drop as Money-Market Rates Jump; Vanke Falls
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Most Chinese stocks fell as a jump in money-market rates to a two-month high signaled small companies will have difficulty borrowing money.
China Vanke Co. led developers lower after Caijing reported Shanghai home prices are set to decline this year. Zhejiang Honglei Copper Co. and Zhejiang Satellite Petrochemical Co. slid at least 7.8 percent in their trading debuts, pacing declines for smaller companies. Shaan Xi Provincial Natural Gas Co. paced an advance for natural-gas producers as investors speculated a government pricing reform plan may lead to higher prices.