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China stocks tumble on credit tightening fears
Posted By Adan On June 24, 2013 @ 9:49 am In World News | Comments Disabled
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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