2013.06.2504:29:40UTC+00Shanghai stocks continues to decline; Hong Kong advances

Mainland Chinese stocks decline further Tuesday amid concerns over the effect from a liquidity squeeze in the interbank money markets, with banks extending their steep recent declines. The Shanghai Composite gave up 1% to 1,944.01, a day after it tumbled 5.3%, triggering a selloff in global equity markets. Shares of China Minsheng Banking Corp. relinquished 5.4% on top of Monday's 10% plunge, with Industrial Bank Co. missing 3.5% and China Everbright Bank Co. dropping 2.2%. Meanwhile, stocks in Hong Kong bounced back after a five-day losing streak, with the Hang Seng Index bolstering 0.5% to 19,921.63, but shy of the 20,000-point level, while the Hang Seng China Enterprises Index jumped 0.4%. Gains were led by stocks beaten down recently, with conglomerate Wharf Holdings Ltd. soaring 3% and New World Development Co. trading 3.3% higher.