China’s Stocks Drop to Three-Week Low

China’s stocks fell to the lowest in three weeks after Citigroup Inc. and JPMorgan Chase & Co. cut their growth forecasts and investors speculated a cut in banks’ reserve ratios won’t be enough to stem an economic slowdown.

Jiangxi Copper Co. and Aluminium Corp. of China Co. led declines for materials producers on concern a slowdown will reduce demand for commodities. Liquor maker Kweichow Moutai Co. slid 2.4 percent on speculation the stock’s rally to a record high last week was excessive after a report showed retail sales grew less than estimated. China Eastern Airlines Corp., the second-biggest carrier, dropped the most in six weeks after Cathay Pacific Airways Ltd. said economy fares have dropped as much as 10 percent this year amid waning travel demand.