“China’s stocks fell for a fourth day on concern government measures to cool inflation are slowing the world’s second-biggest economy.
PetroChina Co., the nation’s biggest oil company, lost 1.9 percent after Goldman Sachs Group Inc. cut China’s economic growth estimates. Industrial and Commercial Bank of China Ltd. led declines for lenders after the Securities Times cited investors as saying the central bank may further boost banks’ reserve requirement ratios. China Gezhouba Group Co., which has hydroelectric power projects, rose 2.4 percent as Xinhua News Agency reported China will boost water conservation efforts.
“Investors are concerned about the pace of economic growth after so many measures to cool the economy and the debt crisis in Europe,” said Sun Chao, an analyst at Citic Securities Co., China’s biggest-listed brokerage, in Shanghai. “They are simply selling as they are unwilling to take more risks for now.””
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