HONG KONG, Mar 28 (Reuters): China shares suffered their worst loss in
nearly a month Thursday, as Hong Kong closed out the first quarter on a
tepid note, with banks sinking after Chinese regulators ordered more
transparency on wealth management products.
The move is aimed at warding off potential risks to the mainland financial system and comes after an instrument sold through Hua Xia Bank failed to pay its annualised return while China's CITIC Trust announced payment delay on its product late last year.
Banks were also put under pressure after China's cabinet said it will unveil new measures to further liberalise interest rate and exchange rate markets later this year.
The move is aimed at warding off potential risks to the mainland financial system and comes after an instrument sold through Hua Xia Bank failed to pay its annualised return while China's CITIC Trust announced payment delay on its product late last year.
Banks were also put under pressure after China's cabinet said it will unveil new measures to further liberalise interest rate and exchange rate markets later this year.
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