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China Daily | Updated: 2014-09-11 07:31
Equities decline most in 2 weeks as M2 slows
China's stocks fell, sending the benchmark Shanghai Composite Index to its lowest point in almost two weeks, after Premier Li Keqiang indicated money-supply growth slowed. China Vanke Co and Poly Real Estate Group Co slid more than 1 percent, leading declines for property issues. Ningbo Port Co rose to a three-year high on speculation the government will set up more free trade zones with neighboring countries. M2, the broadest measure of money supply, rose 12.8 percent last month compared with a 13.5 percent pace in July. The slowdown in money-supply expansion follows July's plunge in new credit to the lowest level since 2008.
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