Most Chinese stocks fell as declines by technology shares and power producers overshadowed gains among property and consumer-staples companies. Price swings on the Shanghai Composite Index dropped to a five-month low before the release of a manufacturing gauge tomorrow.
Tesla Motors Inc., labeled a “loser” by Mitt Romney during the U.S. election, is giving President Barack Obama’s green-energy strategy its biggest win after almost two years of failures pounced upon by Republicans.
Chinese stocks retreated in New York from the highest level in three months, led by Huaneng Power International Inc., as concern increased over a slowdown in Asia’s largest economy after UBS AG cut its growth forecast.
Technology to trap carbon emissions from coal- and gas-fired power plants and store it underground has the potential to be cost-competitive with other green energy in the U.K. by the early 2020s, a government adviser said.
Chinese equities retreated in New York from the highest level in three months, led by Aluminum Corp. of China Ltd., after investment in the nation’s fixed assets and industrial output trailed economists’ estimates.