May
31
China’s Stock Rally Fizzles as Banks Decline, Brokerages Advance
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The biggest jump in Chinese stocks in almost three months petered out as declines by banks and energy producers countered gains by brokerages.
The Shanghai Composite Index added 0.1 percent at the noon-time break. The benchmark measure surged 3.3 percent on Tuesday amid speculation the nation’s shares would be included in MSCI Inc.’s global benchmark indexes. Data Wednesday showed an official factory index stood at 50.1, around the line between expansion and contraction, while a non-manufacturing gauge fell more than estimated. The yuan traded near its lowest level in five years…
China’s Stock Rally Fizzles as Banks Decline, Brokerages Advance
