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China Stocks Fall to Two-Month Low as Material Shares Lead Drop

Posted by Chris Advincula on May 18, 2016 6:38:44 AM

(May 18 Wednesday Bloomberg) China's stocks fell to a two-month low, dragged down by material and technology stocks, amid signs of a slowing economy and rising odds of a Federal Reserve interes rate increase.

The Shanghai Composite Index dropped 1.3 percent, paring losses in the last 30 minutes of trading to end the day above, 2,800, a closing level that hasn't been breached in the past two months. The ChiNext index of smaller companies retreated the most in a week on concern Chinese authorities are preparing to crack down on reverse mergers. Hainan Mining Co. led losses among material companies with a 5.5 percent tumble.

Click on the link below to see the full story from Bloomberg news:

China Stocks Fall to Two-Month Low




Topics: Asian market, Stocks, China Data, China Economy


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