China’s Stocks Decline as Europe Debt Overshadows Bank Loans


12/06/2012 11:07 AST  Bloomberg

China’s stocks fell for the fourth time in five days as concern Spain’s bailout plan won’t be enough to tame Europe’s debt crisis overshadowed higher-than- estimated new Chinese bank loans.

Baoshan Iron & Steel Co. (600019), the listed unit of China’s second-biggest steelmaker, declined 3.3 percent after it cut product prices. China Shenhua Energy Co., the largest coal producer, led a gauge of energy producers to the biggest drop among industry groups on concern Europe’s economic problems may slow global growth. Spanish and Italian bond yields surged yesterday as investors turned their attention to debt auctions in Italy this week and elections on June 17 that may determine whether Greece stays in the euro.

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