Chinese stocks fell to a three-month low as health-care companies slumped and shares of smaller companies dropped on speculation financing costs will increase.
Kangmei Pharmaceutical Co. paced declines by Chinese drugmakers after the Economic Observer reported the government may cut medicine prices by 40 percent.
Chinese health-care shares rose the most in two weeks on speculation medicine demand will increase after two women died from the H1N1 flu strain in Beijing and the government set targets for growth in the biomedical industry.
Most Chinese stocks fell before the release of industrial production and inflation data tomorrow as speculation mounted the government will take steps to support equities.
Sinosteel Corp., China’s biggest iron-ore trader, agreed to buy future production of the steelmaking ingredient from Brockman Resources Ltd., extending its links with Australia.
China’s stocks fell for a second day, sending the benchmark index into a so-called correction, after Premier Wen Jiabao said the cabinet is drafting measures to curb inflation.
China’s stocks fell, dragging the Shanghai Composite Index lower for a second day, on speculation tighter monetary policies to counter inflation will slow the country’s economic growth.
Shares of the following companies had unusual moves in China trading . Stock symbols are in parentheses and prices are as of the 3 p.m. close.
"Lowering the drug prices has been and will continue to be a trend."
- Li Ying on Dec 19, 2010