China’s Stock Market Stumbles
China’s stock market tumbled as investors were frightened by the cental bank’s decision to cut down the amount of cash that the country’s lenders must hold as reserves, for the sake of the economic growth. The central bank mentioned that the reserve requirement ratio currently stand at 15.5 % for large institutions and 13.5% for smaller banks in which it will be cut by 100 basis points from Oct.15.
