BEIJING: China’s stocks dropped the most in a month on heavy volume, led by smaller companies, as investors weighed whether an equity rebound had gone too far.
The Shanghai Composite Index slid 3.1 percent to 3,320.68 at the close, the most since Sept. 15. The ChiNext index of smaller companies slumped 6.6 percent after soaring 40 percent through Tuesday from last month’s low. Leshi Internet Information & Technology Corp. and East Money Information Co., the heaviest-weighted ChiNext stocks, both tumbled by the 10 percent daily limit. Jiangxi Copper Co. paced declines for material producers, tumbling 7.8 percent.
