Money Stocks
Stocks drop as China raises reserve ratio
Stocks in Shanghai slumped Tuesday, sending the benchmark index to the lowest level in nine months, as investors sold off shares as China’s central bank decided to tighten money supply in early May. On May 1, the People’s Bank of China, the central bank, ruled that from May 10, all China’s big lenders will have to increase their reserve minimum to 17 percent of their savings. The order marks the …
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