China’s benchmark stock index closed down 0.8 per cent in thin year-end trading on Thursday under pressure from a cash crunch in the country’s money market,with large-cap financial,property and energy stocks active.
The Shanghai Composite Index ended at 2,855.2 points,continuing a trend over the past several weeks of moving narrowly around the 250-day moving average,now at 2,852.
You have exhausted your monthly limit of free stories.
Read more stories for free with an Express account.
China’s benchmark money market rate jumped nearly 150 basis points to a fresh more than two-year high on Thursday,as traders cited an acute shortage of funds after a series of monetary tightening steps.
