Pursuits
China’s Stocks Decline Before Profits Data; JiuGuiJiu Slumps
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China’s stocks declined, with the benchmark index approaching the 2,000 level, before the release of industrial profits data tomorrow.
Liquor maker JiuGuiJiu Co. plunged by the 10 percent daily limit for a second straight day after its products were found to have excessive levels of plasticizer. Datong Coal Industry Co., the nation’s third-largest producer of the fuel, fell to the lowest since March 2009 on lower thermal-coal prices. Chongqing Iron & Steel Co. surged by the 10 percent daily limit after the local regulator approved its asset-purchase plan.