China stocks tumble on credit tightening fears


BBC
June 24, 2013

Chinese stock markets have fallen sharply as the country’s central bank indicated its credit tightening policy would continue.

The Shanghai Composite SSE index fell 5.3% to 1,963.24 points, over 1,540 points below its 52-week high.

Traders reacted negatively to the People’s Bank of China (PBOC) saying liquidity in the country was still “reasonable” and that the era of cheap cash was over.

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