Pursuits
China Stocks Fall for First Time in Week on Producer-Price Drop
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China’s stocks fell for the first time in five days, led by energy and industrial companies, as a slump in producer prices signaled demand is weakening in the world’s second-biggest economy.
Datong Coal Industry Co. and Anhui Conch Cement Co. slid more than 2 percent after the statistics bureau said producer prices dropped 2.6 percent in April from 1.9 percent a month earlier. Poly Real Estate Group Co. retreated 2 percent, leading a gauge of property stocks to the biggest loss among five industry groups. Kweichow Moutai Co., China’s biggest liquor maker, jumped 4.4 percent after Shenyin & Wanguo Securities Co. recommended buying the shares.