Markets: China index hit by intermediary probe
Asian shares fell for a fourth consecutive session following unexpectedly weak US employment data and robust Chinese inflation figures.
The FTSE Asia Pacific index retreated 0.6 per cent to 240.02.
In Tokyo, the Nikkei 225 Average fell 1.5 per cent to 9,549.26, with large exporters under pressure after the yen’s advance gained momentum.
Investors favoured the Japanese currency as a haven over the dollar following Friday’s US non-farm payrolls report, which showed a slowdown in the country’s labour market recovery.
China’s Shanghai Composite index fell 0.9 per cent to 2,285.78 following the country’s inflation data.
Bank shares led the declines after the country’s banking regulator said late on Friday that it would look into the sector’s intermediary businesses, signalling lower service fees in the future.