Stocks sink 0.5% as banks, property companies weaken
China’s stocks fell for the first time in three days on Thursday as banks and property developers slumped, overshadowing government measures to support economic growth. The Shanghai Composite Index dropped 0.7 percent to 2,043.70 points. The State Council, China’s cabinet, said onWednesday that the nation will extend tax breaks to more small companies and increase financing to build low-income housing. China Vanke Co Ltd, the nation’s biggest listed property developer, lost 2.3 percent to close at 8.10 yuan ($1.30).