Yanzhou Coal Slides, Leads Coal Stocks Lower on Resource Tax

Bloomberg reported that coal stocks declined, with Yanzhou (NYSE:YZC) leading the drop in share price.

As quoted in the market news:

Yanzhou Coal, China’s fourth-biggest coal producer, lost 3 percent to 28.37 yuan as of 11:09 a.m. Shanghai time, set for its biggest drop since Sept. 19. Yangquan Coal Industry Group Co. retreated 5.9 percent to 22.60 yuan.

Click here to read the full Bloomberg report.