“China’s stocks fell, sending the benchmark index to its biggest loss since November 2011, on speculation more restrictions on the property industry will hurt demand for bank loans and construction materials.
A gauge of Shanghai developers slid 2.1 percent, poised for the biggest weekly drop since July, after the government told local authorities to halt real-estate speculation using measures such as home-price control targets and the expansion of a property tax. Anhui Conch Cement Co. (600585) slumped 5.4 percent. China Construction Bank Corp. (939), the largest mortgage lender, lost 2.9 percent. Jiangxi Copper Co. and PetroChina Co. led declines for metal and energy stocks after minutes from the Federal Reserve’s last meeting showed debate over further stimulus action….”
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