ICBC shares sank by the daily limit of 10 percent in Shanghai and by 9.9 percent in Hong Kong to reach a market value of about $168 billion as Chinese banks continued to tumble after the government cut the cost of bank loans on Monday for the first time since February 2002.
HSBC slipped 2.5 percent in Hong Kong and 0.7 percent in London by 1030 GMT, giving it a value of almost $180 billion.
Reuters
If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
