Chinese Share Market Dragged Down From Banking, Property Concerns

The Chinese equity market fell as bank shares declined, following reports that August lending may not exceed 500 billion yuan.

In addition, property developers dropped amid concerns that the government would take steps to cool the property market, such as ordering banks to stop issuing loans to developers in an effort to curb housing prices.

Overall the Shanghai Composite Index dropped 3.07 points, while the Shenzhen Component Index rose 40.08 points.

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