Mainland China share market declined for the first time in four days on Wednesday, 16 July 2014, as concerns over the liquidity squeeze amid new share sales overshadowed better than expected domestic GDP and home sales data. The benchmark Shanghai Composite declined 3.08 points, or 0.15%, to 2067.28. Trading turnover decreased to 102.03 billion uan from yesterday's 102.89 billion yuan.
The National Bureau of Statistics announced on Wednesday that China's gross domestic product grew 7.5% in the April-June period, picking up from the 7.4% growth in the first quarter. Among other data, industrial production rose 9.2% in June from a year earlier. Retail sales increased 12.4% from a year earlier. Fixed-asset investment excluding rural households increased 17.3% year on year in the first six months of 2014.
Concerns about liquidity squeeze renewed after the Securities Daily reported on Wednesday that 12 initial public offerings that recently received regulatory approval may freeze subscription funds of as much as 766.5 billion yuan ($124 billion).
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