HONG KONG Jan 15 China shares underperformed
most of Asia on Wednesday after weaker-than-expected money
supply and loan growth data fanned concerns about tightening
liquidity in the mainland, accelerating a shift into small-cap
The CSI300 of the biggest Shanghai and Shenzhen
A-share listings ended down 0.2 percent, as did the Shanghai
Composite Index, which finished at 2,023.3 points.
The ChiNext Composite Index of mainly startups
in technology and other nascent industries listed in Shenzhen
climbed 1.3 percent to a record high.
Chinese banks made 482.5 billion yuan ($79.9 billion) worth
of new yuan loans in December, lower than a forecast of 600
billion yuan and below the previous month's 624.6 billion yuan,
central bank data showed on Wednesday.
The data added to fears of further cash squeezes in the
country's money markets after regulators announced the
resumption of initial public offerings.
With more than 700 IPO applications filed and about 50
approved so far, investors frown at the prospect of increased
competition for limited funds as new offerings resume after a
halt of more than a year.
(Reporting by Clement Tan; Editing by Richard Borsuk)