China’s stocks fell for the first time in three days amid concern capital outflows may intensify as the economy slows.
The Shanghai Composite Index dropped 1.5 percent to 2,896.03 as of 10 a.m. local time. PetroChina Co. and coal producers slumped after oil prices slid below $ 30 a barrel. The Hang Seng China Enterprises Index decreased 2.3 percent.
Huang Weimin, whose Chinese stock-index futures wagers returned more than 6,200 percent last year, says the Shanghai gauge could drop another 15 percent in the first half as slowing economic growth and a weaker yuan fuel capital outflows. Outflows jumped in December, with the estimated 2015 total reaching $ 1 trillion, more than seven times higher than the whole of 2014 based on Bloomberg Intelligence data dating back to 2006.