China’s Benchmark Stock Index Posts Weekly Loss on IPO Concerns
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China’s stocks fell for a third day, led by industrial and technology companies, amid concern new share offerings will divert funds. The benchmark index posted its steepest five-day loss in three weeks.
China Railway Construction Corp. slid 2.8 percent to drag down industrial companies. Goertek Inc., a supplier to Apple Inc., declined to the lowest level since June. Haitong Securities Co. slid to a two-month low after posting a loss in December. Dairy producer Inner Mongolia Yili Industrial Group Co. rose 4 percent as consumer-staples producers advanced.