Not a surprise, but still not good news.
China’s stocks fell, driving the benchmark index toward a fifth week of losses, after U.S. equities plunged on concern the global economic slowdown is deepening and the China Securities Journal reported the central bank will maintain tight monetary policies.
Jiangxi Copper Co. and China Shenhua Energy Co., the nation’s producers of copper and coal, led a retreat for commodity producers after oil and metal prices slid. Industrial & Commercial Bank of China Ltd., the nation’s biggest listed lender, slumped the most in almost two weeks. Maanshan Iron and Steel Co. fell 2 percent after first-half earnings declined.
