HONG KONG -- Chinese investors are giving the country's banks the cold shoulder after a series of dud share offerings, imperiling authorities' capital-raising plans for a sector that faces a $300 billion shortfall and needs to be healthy to drive economic growth.
The underwhelming performance of this week's $4 billion share offering from Postal Savings Bank of China (PSBC), Shanghai's biggest IPO this year, is the just the latest sign of festering problems in the debt-laden banking sector, which has lately seen authorities bail out several struggling lenders.
