Two Ways To Play: Banking News Sends China's Stocks Tumbling
Posted on November 24, 2009 at 08:40 AM EST
China Takes a Tumble Chinese stocks took a tumble last night after the country’s banking authority said lenders who don’t meet their reserve requirements could be punished by limiting their market access.In a story by Dow Jones the China Banking Regulatory Commission said capital adequacy requirements will now be at 10% up from 8% last year. There's speculation that the agency could raise the requirement up to 13% by the end of 2010 but the CBRC denied these claims.Nonetheless the move is the latest sign that China is becoming increasingly worried about risks building in the country’s financial sector ...
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