China's cash crunch sends Asian markets into reverse

06/24/2013 | Yahoo

China's sustained cash restraint in an attempt to rein in the nation's shadow banking system caused borrowing rates to surge, raising concerns over Chinese and regional growth Monday and sending markets into a swoon. The Nikkei fell 1.26% to 13,062.78, the Hang Seng dropped 2.22% to 19,813.98, the Kospi was off 1.31% at 1,799.01 and the S&P/ASX slid 1.47% to 4,669.10.

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