Pursuits
Most Hong Kong Stocks Drop as China Says It Keeps Policy Stance
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Most Hong Kong stocks fell after China’s central bank governor said recent cuts to reserve ratios didn’t signal a change in monetary policy even as the country reported its biggest trade deficit in 22 years.
Foxconn International Holdings Ltd., a maker of mobile phones that depends on Europe for a quarter of its operating profit, dropped 3.6 percent after China’s export growth slowed amid the euro region’s debt crisis. China Railway Construction Corp. plunged 7.3 percent after the Xinhua News Agency said a section of high-speed track built by the company collapsed in heavy rain. China Mobile Ltd. rose 3.9 percent after brokerages recommended shares of the carrier.