Jul
06
China Market Support Fails to Boost Stocks as Small-Caps Tumble
ByChina’s benchmark index fell, erasing the biggest intraday jump since 2008, as a fresh round of government measures to stem $3.2 trillion of losses failed to spark gains outside the nation’s largest state-run companies.
More than six stocks dropped for each one that rose on the Shanghai Composite Index, which slipped 0.6 percent to 3,666.22 at 1:12 p.m. local time. The benchmark gauge, which opened 7.8 percent higher, was supported by gains in PetroChina Co. and Industrial & Commercial Bank of China Ltd., the two largest members on the index. The ChiNext measure of smaller companies sank 7.1 percent, while the Shenzhen Composite Index tumbled 5.4 percent…
China Market Support Fails to Boost Stocks as Small-Caps Tumble
