CHINA US Focus - Perspectives shaping the world's most important bilateral relationship

China’s stocks fell, capping the biggest weekly slide this year, after the country’s first interest-rate cut since 2008 intensified concern that the economic slowdown is deepening.

 

Industrial & Commercial Bank of China Ltd. and China Construction Bank Corp. led declines for lenders after Nomura Holding Inc. and BoCom International Holdings Co. said the rate cut will hurt bank earnings. Anhui Conch Cement Co., China’s biggest cement maker, tumbled 2.8 percent after the company estimated first-half profit may have dropped more than 50 percent. Jiangxi Copper Co. paced a retreat for metals producers before tomorrow’s release of May economic data that may show fixed-asset investment expanded at the slowest pace in a decade.