Chinese stocks were down 6% today. RBS explains:
More monetary easing measures expected with a broadbased RRR cut on the way
Latest rules unveiled by the CSRC and CBRC could cool down the booming equity market to some extent through preventing funds released for the real economy from rushing into the stock market. It could pave the way for the PBoC to deliver more easing measures including a broad-based RRR cut in our view.