Bank of America joins the group cutting Chinese growth forecasts, slashing its own 2012 estimate...

|By:, SA News Editor

Bank of America joins the group cutting Chinese growth forecasts, slashing its own 2012 estimate to 7.7% from 8%. Shanghai stocks tumbled (-1.5%), led by steep declines in the brokerages, property, and construction material stocks. Apparentlly, Beijing may not be as quick as hoped with easier monetary policy. Sigh.