Chinese stocks closed july 23, 2012

Chinese stocks closed july 23, 2012 : Shanghai shares closed at their lowest since March 2009 on Monday, dragged down by weakness in the financial sector with volume lingering at lackluster levels as money supply stayed tight in the mainland.

The Shanghai Composite Index ended down 1.3 percent at 2,141.4. The CSI300 Index of the top Shanghai and Shenzhen listings shed 1.4 percent.

Meanwhile, Asian shares slid and the euro hovered near multi-year lows hit earlier, as Spain sparked concerns about its ability to stave off a sovereign bailout after two indebted regions sought financial assistance from the central government.

Fears the euro zone's fourth largest economy will be forced to follow Greece, Portugal and Ireland - which were thrown lifelines by international lenders after their borrowing costs shot above sustainable levels - drove the 10-year US Treasury yield to a record low 1.4365 per cent early in Asia.

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