China™s
stocks fell, capping the benchmark index™s biggest quarterly loss since
June, as industrial and consumer-discretionary companies slumped before
the release of manufacturing data tomorrow.
FAW Car Co. and XJ Electric Co. slid at
least 2 percent. China Minsheng Bank Corp. dropped the most in three
weeks after earnings trailed analysts™ estimates. BesTV New Media Co.,
which formed a game console venture with Microsoft Corp. in Shanghai™s
free-trade zone, plunged 10 percent as the shares resumed trading
following a weeklong halt.
The Shanghai Composite Index dropped for
a fourth day, losing 0.4 percent to 2,033.31 at the close. The measure
slid 1.1 percent this month, extending this quarter™s slump to 3.9
percent, after a private developer collapsed and concern grew the
restart of initial public offerings will divert funds.
The CSI 300 Index slipped 0.3 percent to
2,146.31 today, extending this quarter™s loss to 7.9 percent. The Hang
Seng China Enterprises Index advanced 0.4 percent for a 1.5 percent gain
this month. The H-shares index trades at 6.7 times estimated earnings,
compared with 7.5 for the Shanghai Composite. Trading volumes in the
Shanghai index were 20 percent below the 30-day average for this time of
day, according to data compiled by Bloomberg.
Copy Source: Bloomberg
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