Economics
China’s Stocks Decline on Credit Growth Slowdown, IPO Sales
This article is for subscribers only.
China’s stocks fell, as financial companies slumped after credit growth slowed and concern grew that rising share supply from initial public offerings will sap demand for existing equities.
Industrial & Commercial Bank of China Ltd., the nation’s biggest lender, and Huaxia Bank Co. slid at least 1.7 percent. Great Wall Motor Co., the largest maker of sport-utility vehicles, dropped 3.6 percent, extending losses after it delayed the introduction of a model. Anhui Conch Cement Co. climbed 4 percent after it estimated 2013 profit rose about 50 percent.