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Chinese shares fell Thursday with the benchmark Shanghai Composite Index down 1.36 percent, or 39.34 points, to 2,844.08.
In its latest move to battle inflation, China's central bank announced Thursday that it will raise the reserve requirement ratio (RRR) of the country's lenders by 50 basis points, the fifth such increase this year.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SZSE) on June 1, 2010, edged down 2.23 percent, or 20.7 points, to 909.26 Thursday.
Hong Kong Exchanges and Clearing (HKEx), the local bourse operator, said on Wednesday that it plans to introduce a special facility in the second half of this year to encourage trading in renminbi-denominated shares in the secondary market.
Sugar output may exceed demand for a second year after farmers boosted planting as futures surged, pushing prices lower, said Standard Chartered Bank. That may lower costs for drinks makers such as Coca-Cola Co.
HSBC announced its strategy execution plan on Wednesday stating that the bank has launched a program to target $2.5 billion to 3.5 billion of cost saves to reach cost efficiency ratio target of 48 percent to 52 percent by 2013.
Gome Electrical Appliances Holdings Ltd, China's biggest electronics retailer, said it will take "appropriate steps" after its former chairman told a newspaper he intends to sell all of his shares in the company.
Citibank is continuing its expansion in China and expects fierce competition to heat up among foreign banks, who are eyeing a slice of the wealth and consumption in the Chinese economy.
The retreat came after data showed that inflation exceeded government targets last month, signaling higher interest rates that may slow the world's second-biggest economy.
Renminbi business development in Hong Kong, with relatively limited renminbi deposits, will not pose risks to financial stability on the mainland, said K. C. Chan, secretary for financial services and the treasury of the city government on Wednesday.
Industrial and Commercial Bank of China (ICBC), the country's largest bank, said Wednesday that the balance of its lending to small businesses surged 53.5 billion yuan ($8.24 billion) in the first quarter of 2011.
China's Ministry of Finance (MOF) said on Wednesday it will float 32.52 billion yuan ($5.01 billion) in seven-year book-entry treasury bonds starting Thursday.
