China shares hit 4½-year low as banks sink again, Hong Kong down too

China shares slumped to their lowest since early 2009, reversing Hong Kong gains on Tuesday morning, with losses accelerating for mid-sized banks as mainland interbank rates started climbing, deepening market jitters.

By midday, the weighted-average seven-day repo rate was slightly higher than it closed at on Monday after the Chinese central bank on Tuesday opted to stand pat at the first of two scheduled open market operations this week.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1268608/china-shares-hit-412-year-low-banks-sink-again-hong-kong