Shanghai Composite Drops Before Economic Reports as Banks Slide
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China’s benchmark stock index fell from an eight-month high before the release of economic data including new yuan loans and industrial production.
Huaxia Bank Co. and Industrial Bank Co. dropped at least 1 percent to lead declines among lenders. Gree Electric Appliances Inc., China’s largest maker of home air-conditioners, lost 1.6 percent. Yonghui Superstores Co. jumped 10 percent after it said Dairy Farm International Holdings Ltd. is buying a 20 percent stake in the supermarket operator.