China's latest policy tightening and concerns about the pace of manufacturing growth in the country undermined Asian stocks yesterday, although activity was limited by the closure of Japanese markets for the “Golden Week” holiday.
In Shanghai, the Composite index dropped 1.2 per cent to a seven-month low of 2,835.28.
Banks led the way lower after Beijing announced on Sunday a further 0.5 per cent increase in the reserve ratio requirement, the third such move this year.
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