Most Asia shares rebound on PBOC but Shanghai extends slide - Yahoo! Finance
TOKYO (Reuters) - Most Asian shares turned around a four-day losing
streak and rose on Wednesday as investors took comfort from U.S. data
underscoring an American recovery and assurances from China's central
bank that it will offer funds to banks if needed.
But fears of a credit crunch and slower loan growth continued to fuel
selling of Chinese banking shares in Shanghai, pulling Japan's Nikkei
(.N225) down nearly 1 percent at one point after a solid start. (.T)
Even as they eased for a fourth day, China's short-term borrowing rates
remained at elevated levels and some traders expected liquidity to
remain tight until mid-July.
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