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Apr

28

China’s Stocks Drop in Volatile Trading Amid Earnings Concerns

By Tony Seruga

Chinese stocks fell in volatile trading, led by raw-material companies, amid concern slowing economic growth and weak commodities demand are hurting earnings. Banks rallied.

Jiangxi Copper Co., the biggest producer of the metal, plunged 5.3 percent in Shanghai after reporting a 61 percent slump in first-quarter profit. PetroChina Co. sank 5.6 percent in Hong Kong after posting a record-low profit. Bank of Nanjing Co. jumped 8.4 percent after its net income surged 25 percent. Industrial & Commercial Bank of China Ltd. climbed to a six-year high before the biggest lender reports earnings Wednesday…

China’s Stocks Drop in Volatile Trading Amid Earnings Concerns

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