Pursuits
China’s Stocks Fall to Two-Week Low as Commodity Producers Slump
This article is for subscribers only.
Chinese stocks fell, dragging down the benchmark index to its lowest level this year, as commodity producers tumbled amid a plunge in global metal and oil prices.
Tongling Nonferrous Metals Group Co. and Yunnan Copper Industry Co. lost more than 4 percent as a gauge of material shares dropped 2.2 percent. Copper plunged to a 5 1/2-year low and New York crude retreated 1.4 percent. PetroChina Co. fell 2.8 percent. Industrial & Commercial Bank of China Ltd. led gains by financial shares after a person familiar with the matter said the central bank rolled over a lending facility.