Pursuits
Most Chinese Stocks Drop as Insurers Retreat After Sichuan Quake
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Most Chinese stocks fell as insurers slumped on concern that claims arising from the deadly Sichuan quake will hurt earnings. Infrastructure companies rallied on speculation they will benefit from reconstruction.
China Life Insurance Co. slumped the most since March 4 after the temblor, the strongest in three years, killed at least 188 people and injured 11,500. Shanxi Xinghuacun Fen Wine Factory Co. led declines for liquor makers, plunging 8 percent as Sealand Securities Co. said sales may slow. Sichuan Road & Bridge Co. and Chongqing Iron & Steel Co. jumped 10 percent. Great Wall Motor Co. surged to a record high after BNP Paribas SA boosted its earnings estimates for the company.