Economics
China’s Stocks Fall Most in Six Weeks as Yuan Weakens on Economy
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China’s stocks fell the most in six weeks, while the yuan headed for its biggest weekly slide since 2011 as a manufacturing slowdown fueled concerns the economic expansion is weakening.
China Petroleum & Chemical Corp. slid 3.1 percent after Jefferies Group LLC downgraded the shares and said yesterday’s rally was unjustified. PetroChina, the largest oil producer, retreated 3.9 percent. Sany Heavy Industry Co., the biggest machinery maker, tumbled 2.1 percent. Citic Securities Co. led declines for brokerages after the Standard reported Sinolink Securities Co. and Tencent Holdings Ltd. cut commission fees for their online stock-trading service.