Tudou Drops as Growth Concerns Trigger Tumble: China Overnight
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Chinese equities fell in New York, sending the benchmark index to to the lowest level in nine months, on concern stimulus measures will take time to spur growth in the world’s second-largest economy.
The Bloomberg China-US Equity Index of the most-traded Chinese shares in New York lost 1.4 percent to 86.55 yesterday, the lowest level since Oct 5. Tudou Holdings Ltd. led declines in Internet companies after the South China Morning Post said the resignation of the video website’s chief operating officer may prompt more people to leave. Aluminum Corp. of China Ltd. slid the most among government-owned companies after their combined first-half net income fell 12 percent.