Selling pressure prunes gains on bourses

The benchmark Shanghai Composite Index suffered its biggest two-day loss this month on Tuesday as investors rushed to offload shares amid heavy selling pressure.

According to analysts, a slew of factors, including rising liquidity fears, have triggered the nearly 5.5 percent, or 287-point fall in the benchmark during the past two days.

Doubts about the sustainability of the rally arose after the benchmark surged beyond the psychological barrier of 5,000 points earlier this month.