China’s 25 basis point hike in the one-year base lending rate sent banks spiraling and crippled real estate shares. The Shanghai Composite Index sank 1.9%, but in Japan the Nikkei 225 Index rose 0.8%. The Hong Kong Stock Exchange was closed for the Christmas holiday.
Continue reading China’s Christmas Rate Hike Drags Banking Shares Lower
China’s Christmas Rate Hike Drags Banking Shares Lower originally appeared on DailyFinance on Mon, 27 Dec 2010 07:00:00.