Pursuits
China Stocks Fall to Two-Week Low After Foreign Investment Drops
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China’s stocks fell after a report showed foreign direct investment slumped to a two-year low, overshadowing comments from Premier Wen Jiabao that there is more room to adjust monetary policy.
Tsingtao Brewery Co., China’s second-biggest brewery by volume, slid 4 percent for the biggest decline among consumer staples stocks after earnings missed analysts’ estimates. Huadong Medicine Co. led a drop for health-care shares on speculation drugmakers are overvalued. Wen said that while easing inflation allows more room to alter monetary policy, downward pressure on the economy remained “relatively large.”