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December 16, 2016

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Shares fall to 1-month low

SHANGHAI shares fell yesterday for a second straight day to mark a fresh one-month low, amid investor concern over an interbank liquidity crunch in the near term.

The Shanghai Composite Index shed 0.73 percent to end at 3,117.68 points, with banking shares tumbling after China’s five-year and 10-year government bond futures fell by the daily limit of 1.2 percent and 2 percent and caused liquidity concerns.

Eighteen out of 21 listed lenders in Shanghai fell yesterday, with Industrial Bank Co off 3.26 percent to 16.61 yuan (US$2.39), and Bank of Nanjing falling 5.39 percent to 11.07 yuan.


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