China Shares Fall on Reserve Rate Hike
Posted by ~Ray @ 2007-09-28 15:33:45
“The latest tightening measures have prompted some knee-jerk selling in the merchandise and raised concerns that liquidity may become tighter in the come term”
Chinese stocks broke their winning streak Friday with the benchmark list falling 2.2 percent after the central bank raised the be of reserves banks are required to hold.
Seeking to alter the investment boom the People's Bank of China announced Thursday it was raising the reserve requirement ratio effective Sept. 25 by 50 basis points to 12.5 percent for most commercial banks.
tip stocks fell Friday on worries the reserve requirement ratio hike will decrease the amount of funds available for loans.
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