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Hong Kong’s Bear Market Followed by Chinese ADR Declines

Chinese shares slumped in New York trading after a gauge of Hong-Kong listed companies entered a bear market amid mounting concern that growth in the world’s second-largest economy is slowing.

The Bloomberg China-US Equity Index of the most-traded stocks in the U.S. dropped 1.1 percent to 96.04 yesterday. The Hang Seng China Enterprises Index fell 1.7 percent on the day, extending its retreat from a Dec. 2 high to 20 percent. Yingli Green Energy Holding Co., the world’s largest solar-panel maker, tumbled to the lowest level since December in New York while China Mobile Ltd., the biggest phone company, sank after posting its worst profit decline since 1999.