PBOC Sees China's Liquidity Risks as Controllable

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June 25 (Bloomberg) -- Bloomberg's Manus Cranny reports that a People’s Bank of China official has stated that liquidity risks in China’s financial markets are controllable and the bank believes seasonal forces affecting interest rates will fade. He speaks on Bloomberg Television's "Countdown."

China stocks opened not as bad as it was.

China was down but not as bad as this.

In the last hour to an hour and a half we have seen significant declines.

Inks were taking a bit of a beating.

The shanghai composite is down to merle five percent, the lowest level since january 2009. down 20% from this year's may 15 hi.

Before that it was rallying.

It is since that may hide down 20%. you could call it a bear market.

Big declines.

Moody's downgrading the hong kong banks to a negative outlook.

There is their exposure to china.

There are issues about the credit crunch in china.

The interbank rate was high as it has done.

That is the big issue this morning.

The markets will -- japan opened higher by two percent.

You can see the big stocks are falling the most.

The miners are the big falls there.

Not as bad as they were before.

China composite below that.

Japan -- all about china.

Goldman sachs is downgrading its forecast.

Also a bit of concern.

Goldman sachs and morgan stanley cutting their outlook.

The dollar also weakening.

Every major asset class in a major decline.

Look at that market their.

==--- there.

That is the concern today as it was yesterday.

This text has been automatically generated. It may not be 100% accurate.

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