Pursuits
China’s Stocks Post Biggest Weekly Loss in 20 Months on Property
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China’s stocks fell, dragging the benchmark index to its steepest weekly loss in 20 months, as higher home prices boosted concern the government will adopt tighter policies to prevent asset bubbles.
SAIC Motor Corp., the biggest automaker, dropped 3.2 percent, adding to a five-day loss of 10 percent. China Construction Bank Corp., the largest mortgage lender, led declines for financial companies this week. A gauge of Shanghai property developers posted its worst weekly loss since July. New home prices rose in most cities the government tracked in January, government data showed today.