Mainland China stock market closed at one-month lows on Thursday, 15 December 2016, after the U.S. Federal Reserve raised interest rates and signaled a faster pace of interest-rate increases than expected in 2017. Strength in small-caps was offset by a tumble in banking shares, triggered by a dramatic sell-off in bond markets that raised the spectre of liquidity crunch in the banking system. The Shanghai Composite Index fell 0.73% to 3,117.68, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.67% to 1,972.91. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, jumped 0.65% to close at 1,975.85 points.
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