Financial Times FT.com

Chinese stocks hit by capital concerns

By Robert Cookson in Hong Kong

Published: November 24 2009 11:44 | Last updated: November 24 2009 11:44

Chinese stocks fell their furthest in almost three months on Tuesday as investors took profits amid fears that banks would be forced to sell shares to raise capital.

The rumour preceded reports China’s 11 largest listed banks will have to raise at least Rmb300bn ($43bn) to meet more stringent capital adequacy requirements and maintain loan growth and business expansion, according to estimates from BNP Paribas.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this