Pursuits
China’s Stocks Fall on Growth, Earnings Concerns; Moutai Surges
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Chinese stocks fell, dragging the benchmark index to the lowest level since February 2009, as Societe Generale SA predicted a weaker growth outlook and Goldman Sachs Group Inc. cut its estimates for Chinese earnings.
China Construction Bank Corp. sank the most in ten weeks as Credit Suisse Group AG warned of softening loan demand and lower net interest margins at lenders. Kweichow Moutai Co., China’s biggest producer of baijiu liquor by market value, surged the most in almost two years after saying it will raise some product prices. Citic Securities Co. rose to a one-week high on plans to buy a 30 percent stake in Shenzhen Qianhai Equity Exchange.