Growth doubt pulls down prices
By Bloomberg | China Daily | Updated: 2014-12-24 07:32
Benchmark sinks to two-week low as utilities fall out of favor with many investors
Share prices fell on Tuesday, with the mainland benchmark down by the most in two weeks, amid concern recent gains were excessive and a slowing economy will curb earnings growth.
Industrial and Commercial Bank of China Ltd and PetroChina Co, the nation's biggest companies, dropped more than 4 percent. Aluminum Corp of China Ltd plunged 7.2 percent after rallying 25 percent in three days. Huaneng Power International Inc led declines for utilities, slumping 6.6 percent after valuations hit the highest levels in 19 months.
Photo