Pursuits
China Stocks Drop as Property Developers Fall; Banks Gain
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China’s stocks fell for the first time in three days, led by property developers, after valuations for the benchmark index approached eight-month highs.
Poly Real Estate Group Co., the nation’s second-largest developer, declined 2.1 percent, paring gains since the end of August to almost 50 percent. Tsingtao Brewery Co., China’s second-biggest brewery by volume, dropped 1.2 percent as Citigroup Inc. turned negative on the stock. China Citic Bank Corp. climbed 3.1 percent to lead bank stocks higher.