FX.co ★ China Stock Market Review

China stock market tumbled on declining shares of nonferrous companies due to weak metals prices and coal companies on concerns of coal prices as peak of summer electricity usage passed. Shanghai Composite index slid 2.6% to 2915.80 after being off 5% in late trade.
Investors remain concerned about whether Beijing can tighten bank lending or not. The lower liquidity also made downward pressure on the market sentiment that indicates that the correction is not over.
Among most decliners are Citic Securities down 4.6% at CNY27.56, Shanghai Pudong Development Bank down 5.7% at CNY 21.07, Yunnan Aluminum down 7.7% at CNY12.92, Datong Coal Industry off 4.3% at CNY40.09, Jiangxi Copper off 5.2%.

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Analyst: Vladimir Donin