Shanghai sold a residential plot of land at a record price amid rising competition among developers for sites in cities with fast price gains as some local governments tighten property curbs.
China’s stocks fell, capping the benchmark index’s first monthly loss since June, as earnings at banks and consumer-staple producers disappointed investors.
Lai Xiaomin, chairman of China Huarong Asset Management Co., found his schedule packed one morning this year with back-to-back meetings with visitors from Goldman Sachs Group Inc. and Morgan Stanley.
Kangmei Pharmaceutical Co. paced declines by Chinese drugmakers after the Economic Observer reported the government may cut medicine prices by 40 percent.
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.
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.
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.
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.
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.
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.
"Health-care earnings are much lower than expected, leading to the sector's sell-off today."
- Li Ying on Oct 30, 2013