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Chinese stocks plunge on call for banks to raise capital

Posted Nov 24th 2009 10:50AM by Connie Madon (RSS feed)
Filed under: Major Movement, International Markets, China, Market Matters

Chinese stocks fell sharply on Tuesday. The catalyst was a call by bank regulators to raise more capital. Chinese banks will be required to raise $43 billion in new capital. Regulators have asked big banks to formulate plans for raising this new capital.

Bank lending in China surged this year, with some of this capital fueling the surge in Chinese stock prices. The Shanghai Composite hit a three-month high on Monday, up 77% for the year.

Continue reading Chinese stocks plunge on call for banks to raise capital

Symbol Lookup
IndexesChangePrice
DJIA-74.9212,454.83
NASDAQ-1.852,837.53
S&P 500-2.861,317.82

Last updated: May 26, 2012: 10:32 AM

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