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China Equities Drop Again on Weak Economy Signs

China’s stocks fell for a fourth day, led by energy companies, as slumping oil prices and a decline in the nation’s producer prices added to signs of tepid demand in the world’s second-largest economy.

Shaanxi Coal Industry Co. paced losses for energy shares, sliding 1.8 percent. PetroChina Co. and China Petroleum & Chemical Corp. also dropped. Air China Ltd. jumped 9.9 percent as airline stocks rallied on improved earnings prospects and a media report that the government is developing policies to bolster the industry.

The Shanghai Composite Index (SHCOMP) dropped 0.3 percent to 2,352.29 as of 10:22 a.m. local time, while the CSI 300 Index declined 0.3 percent. China’s factory-gate prices fell in September for a record-tying 31st month while consumer inflation eased to the slowest since January 2010.

Bloomberg [1]

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