Chinese banks extended ¥919B in new loans in June, up from ¥793.2B in May and against...

|By:, SA News Editor

Chinese banks extended ¥919B in new loans in June, up from ¥793.2B in May and against expectations for ¥880B. Slowdown over, according to Credit Agricole's Dariusz Kowalczyk. "The data confirms our view that further rate cuts are not needed and thus are unlikely." Shanghai rises 0.5% amidst a big sell-off worldwide.