Economics
China’s H Shares Decline Most in Two Months as Tencent Retreats
This article is for subscribers only.
Chinese stocks dropped, sending mainland companies in Hong Kong to the biggest decline in two months, as falling producer prices signaled weakening economic growth and technology shares sank on valuation concerns.
Anhui Conch Cement Co., China’s biggest cement maker, slid the most since 2011 in Hong Kong. The ChiNext index, which has a 32 percent weighting in smaller technology stocks, lost 1.3 percent after U.S. peers tumbled yesterday on concern valuations are too high. Tencent Holdings Ltd., Asia’s biggest Internet company, dropped 6.8 percent.