Chinese Stocks Drop to One-Month Low; Yanzhou Coal Paces Losses
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Chinese stocks fell, dragging the benchmark index to a one-month low, as weaker earnings from companies including Yanzhou Coal Mining Co. outweighed better-than-estimated figures from China Petroleum & Chemical Corp.
Yanzhou Coal, China’s fourth-largest miner of the fuel, lost 1 percent after posting a loss in the three months to Sept. 30. Weichai Power Co., a maker of high-speed heavy-duty diesel engines, sank 2.1 percent after profit decreased. China Petroleum, Asia’s biggest oil refiner and also known as Sinopec, added 1.1 percent.