The newspaper says that the Hang Seng Index dropped the most in more than six weeks, falling 578.04 points or 2.6% to close at 21,748.6. The sell-off was across the board and dragged half of the benchmark's 42 blue chips down by more than 3% each.
Harder hit was the H-share index, which lost 3.7% to 12,482.18 points, while the Shanghai Composite Index fell 3.1% to 3,172.658 points.
"The rise in the required reserve ratio came much earlier than expected," Steven Leung, a director of institutional sales at UOB Kay Hian, told the Post. "So to a certain extent it's normal that people would dump interest rate-related stocks like Chinese banks and Chinese property developers."