Chinese Stocks Decline Most in Five Weeks as Money Growth Slows
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China’s stocks declined the most in five weeks, led by financial companies and commodity producers, as the slowest increase in the nation’s money supply on record underscored risks of a deeper economic slowdown.
Poly Real Estate Group Co. and Industrial Bank Co. fell more than 3 percent as a gauge of financial shares posted its biggest loss in a month, while the one-year interest-rate swap dropped as much as eight basis points to a one-month low. China Shenhua Energy Co., a unit of the nation’s largest coal producer, slid 2.4 percent, while Sinopec Shanghai Petrochemical Co. lost 1.8 percent. China Mobile Ltd. slumped in Hong Kong.