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Bloomberg
China stocks fell by the most this month on concern that liquidity conditions in the financial system are not strong enough to support recent gains.
The CSI 300 Index lost 1.3% just two sessions after closing at its highest level in five years. The liquidity-sensitive ChiNext Index retreated 2.2% to its lowest since October 23.
Investors have been worried the central bank will tighten monetary policy as the economy rebounds from the virus pandemic.
“Neither the economic recovery nor liquidity conditions are strong enough to support a one-way uptrend so we’re seeing some selling in the year’s big gainers, like medical shares,†said Dai Ming, a fund manager at Hengsheng Asset Management Co.