China’s Stocks Fall as Volatility Jumps; Property Shares Slump
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China’s stocks fell, led by property and cement companies, on concern government measures to limit home-price gains will hurt profit. A gauge of price swings on the benchmark index rose to a one-year high.
Poly Real Estate Group Co. slid to a two-week low as Guodu Securities Co. said investors are concerned there will be property tax trials imposed on more cities soon. Anhui Conch Cement Co. retreated 3.8 percent as CSC International Holdings Ltd. said real-estate tightening measures have created uncertainty about cement demand. Goertek Inc., a supplier to Apple Inc., dragged down a gauge of Chinese technology stocks.