Pursuits
China’s Stocks Decline on Housing Policy Reversal
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China’s stocks fell, dragging the benchmark index lower for the first time in nine days, on concern the government will retain measures to curb gains in housing prices this year.
China Vanke Co. led a gauge of developers down the most in three months after the China Securities Journal said Shanghai scrapped a plan allowing some non-local residents to buy second homes. PetroChina Co. slid the most in almost two weeks as crude oil traded near a one-week low. Chinese liquor maker Kweichow Moutai Co. and Wuliangye Yibin Co. advanced at least 1.3 percent on speculation earnings growth for consumer staples producers will be shielded from an economic slowdown.