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May 18, 2017

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Shares end 4-day rally on liquidity concerns

SHANGHAI shares ended a four-day rally yesterday, amid investor concerns that tighter financial regulations and deleveraging efforts could hurt liquidity.

The Shanghai Composite Index lost 0.27 percent to 3,104.44 points.

The weak pace could continue as concerns over China’s liquidity stress lingers, said China International Capital Corp.

Although officials eased the concerns when they said during the Belt and Road Forum that the government would help ensure financial stability and liquidity to boost investment activity, the market could be sluggish in the short term as deleveraging policies make their impact, said Yang Delong, chief economist at First Seafront Fund Management Co.

Wuxi Rural Commercial Bank fell by the daily cap of 10 percent, and Jiangsu Changshu Rural Commercial Bank shed 5.68 percent.


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