China Stocks Fall for 4th Day on IPO Concerns; Financials Slide
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China’s stocks fell for a fourth day, the longest stretch of losses in three months, on speculation regulators may resume initial public offerings. Drugmakers, financial stocks and small-company shares dropped.
Kangmei Pharmaceutical Co. tumbled 3.9 percent, sending a gauge of health-care companies to its lowest level in three weeks. China Life Insurance Co. slid 1.7 percent as shares resumed trading after a suspension. Ping An Bank Co. paced declines for lenders as the China Securities Journal said the banking regulator may stop some banks from operating wealth management businesses if they fail to improve their products.