China Stocks fall for second day in row

Mainland China stock market declined for second straight session on Wednesday, 18 May 2016, amid worries that Beijing might taper monetary stimulus as bad debts mount. Meanwhile, risk confidence was further hit by overnight weakness on the Wall Street after strong U.S. consumer prices and other economic data added to the case for a Federal Reserve interest-rate increase soon. Total 9 out of 10 SSE sectors declined, with IT, telecom, material, energy, and consumer goods stocks being major losers. The benchmark Shanghai Composite Index dropped 36.17 points, or 1.27%, to 2807.51. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, fell 17.98 points, or 0.58%, to 3068.04.

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