Stocks trade lower on higher borrowing cost
By Zhang Shidong, Judy Chen and Hanny Wan | China Daily | Updated: 2010-12-28 08:02
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A pedestrian walks past the People's Bank of China (PBOC) in Beijing. Mainland stocks fell on speculation the PBOC, the central bank, will accelerate increases in interest rates after boosting borrowing costs on Christmas Day. Nelson Ching / Bloomberg |
SHANGHAI - Mainland stocks fell, erasing earlier gains, on speculation the China's central bank will accelerate increases in interest rates after boosting borrowing costs over the weekend. Bonds dropped and yuan forwards climbed.
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