Money

Chinese shares tumble 3% on higher reserve ratio

(Xinhua)
Updated: 2010-01-13 16:53
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Chinese equities fell the most in seven weeks on Wednesday after China's central bank asked lenders to set aside more reserves as the record bank credit last year ignited fears of inflation and asset bubbles.

Related readings:
Chinese shares tumble 3% on higher reserve ratio Chinese shares open lower after PBOC says to raise reserve ratio
Chinese shares tumble 3% on higher reserve ratio Chinese shares close up on Tuesday
Chinese shares tumble 3% on higher reserve ratio Chinese shares close mixed on Monday
Chinese shares tumble 3% on higher reserve ratio Chinese shares close 0.10% higher on Friday

The benchmark Shanghai Composite Index went down 3.09 percent, or 101.31points, to close at 3,172.66 points.

The Shenzhen Component Index lost 2.73 percent, or 364.69 points, to close at 13,016.56 points.

Combined turnover expanded to 322.79 billion yuan ($47.69 billion) from 294.3 billion yuan on the previous trading day.

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