China shares have worst day in weeks, tighter liquidity feared

China shares posted their worst daily loss in weeks on Tuesday, led by growth-sensitive sectors, on fears that the central bank is tightening money supply after it drained 14 billion yuan ($2.28 billion) from the market.

By (Reuters)

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Published: Tue 4 Jun 2013, 1:48 PM

Last updated: Fri 3 Apr 2015, 5:35 AM

The CSI300 of the leading Shanghai and Shenzhen A-shares listings closed down 1.4 percent at 2,565.7 points in its worst day since May 14. The Shanghai Composite Index slid 1.2 percent in its worst day since April 23.

The amount the People’s Bank of China drained at the first of its two open market operation this week was more than 80 percent of the 17 billion yuan drained for the whole of last week. ($1 = 6.1317 Chinese yuan)


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