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Fundraising reports unsettle China's banks

Asian equity markets adopted a more cautious tone yesterday as uncertainties over China cast a shadow over the region.

Shanghai tumbled to its lowest level in more than six months as banks were hit by reports of fresh fundraising in the sector and property stocks were unsettled by persistent concerns about moves to cool the housing market.

The Composite index fell 2.1 per cent to 2,907.93 while the May index futures contract fell 2.7 per cent.

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