Shanghai Composite Index dragged below 2,000 as China’s stocks fall
China Shenhua Energy Co., the nation’s largest coal producer, slid 1% to a record low as Beijing and Shanghai stepped up measures to curb pollution. Anhui Conch Cement Co., the biggest cement producer, tumbled more than 3% in Hong Kong and Shanghai. Neway Valve (Suzhou) Co., which surged 43% last week in its market debut after an initial public offering, plunged 10%. Leshi Internet Information & Technology (Beijing) Co. retreated 4.2%.
The Shanghai index rose above 2,000 in February 2009 after a 4 trillion yuan ($661bn) economic stimulus plan fuelled a bull-market rally.