Shares slip as investors fret over liquidity

Source: Xinhua | 2017-06-06

SHANGHAI shares closed lower yesterday, led by declines in financial counters as investors fretted over concerns about liquidity and China’s economic recovery.

The Shanghai Composite Index shed 0.45 percent to close at 3,091.66.

Investors continued to worry about the liquidity situation despite the China Securities Regulatory Commission’s continuing efforts to ease the funding concerns, Haitong Securities wrote in a research note.

Bank of Construction lost 3.15 percent to 6.15 yuan (90 US cents) and Bank of China fell 2.42 percent to 3.63 yuan.

The CSRC’s nod for four initial public offerings did not boost the market.