China Stocks Slump Continues as Banks Hold Mortgage-Linked Rate
- Chinese stocks face extended losses as mainland banks unexpectedly maintain key interest rate linked to mortgages
- Hang Seng China Enterprises Index drops 2.1%, Hang Seng Index slides for seventh consecutive day
- Five-year loan prime rate held at 4.2%, intensifying selloff as traders anticipated stimulus measures
- China's largest mutual fund houses pledge to buy own equity-focused products to bolster market
- Goldman Sachs cuts MSCI China Index target price for second time in three months amid deepening property crisis and shadow banking stress