Why has China sold off this morning?

22 Dec

BN    13:37    *ZHOU CITES SURPLUSES IN INTERNATIONAL PAYMENTS ADDING LIQUIDITY

DJA   13:37    *DJ PBOC: Pay Close Attention To Banks’ Reserve Requirement

BN    13:37    *ZHOU SAYS RESERVE REQUIREMENTS CAN SOAK UP LIQUIDITY   : PBCZ CH

BN    13:37    *ZHOU SAYS CENTRAL BANK MAY STILL NEED TO USE RESERVE RATIOS

BN    13:36    *PBOC’S ZHOU SAYS BANK RESERVE RATIOS ARE IMPORTANT TOOL

DJA   13:36    *DJ PBOC Zhou: To Use Lending, Deposit Rate Margin As Policy

SHCOMP tumbled by almost 2% in quick fashion since these comments. Market concerned that RRR hike may come in earlier than expected.

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