Shares of China's small banks plunge on signs of more policy pain in 2018

Shanghai

CHINA'S smaller banks started the New Year with a double whammy from regulators and investors, and more pain may be looming.

Bank of Tianjin Co tumbled by as much as 12 per cent in the first two trading days, the biggest two-day decline since its Hong Kong listing in March 2016, after rallying at the end of last year. Bank of Jinzhou Co, Bank of Qingdao Co and Huishang Bank Corp fell by more than 3 per cent. In contrast, bigger rivals have rallied.