China Market falls 0.5% on bond defaults woes

The Mainland China equity market closed lower for fifth straight session on Tuesday, 29 May 2018, as investors became concerned about credit risks amid more bond defaults. A rising number of bond payment defaults were weighing on equities, as liquidity tightens after the government increased scrutiny of the nation's asset management industry. The Shanghai Composite lost 0.5%, or 14.62 points, to 3,120.46, capping a 2.9% five-day loss. The CSI 300 Index of large-caps slid 0.8% to 3,804.01 points.

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