Chinese equities fell in New York for the first time in four days, led by consumer stocks, as data showing a leading index rose less last month than in November undermined optimism over the economic recovery.
The Bloomberg China-US Equity Index (CH55BN) of the most-traded Chinese shares in the U.S. retreated from a one-week high to drop 0.5 percent to 101.24 yesterday. Ambow Education Holding Ltd. (AMBO) sank to a record low, while hotel chain China Lodging Group Ltd. (HTHT)slid 2.5 percent. Oil refiner China Petroleum and Chemical Corp. traded at the first discount in two weeks to its Hong Kong stock, while Bona Film Group Ltd. (BONA) lost the most in a month. E- House China Holdings Ltd. (EJ) jumped for a second day.
The China-US measure followed the Hang Seng China Enterprises (HSCEI) Index lower after the New York-based Conference Board’s leading gauge for China’s economy rose 0.4 percent in December, from a 1.1 percent climb the previous month. A reading of 10-day volatility on the index of Chinese stocks listed in New York fell to 13.9, the lowest level this year.
