Asia stocks fall after China aims at shadow loans

Asian stocks sank on Monday after China allowed commercial lending rates to soar in a move analysts said was aimed at curbing a booming underground lending industry.

Analysts say the spike late Thursday in the country’s interbank lending rate to over 13 per cent was part of an effort to trim off-balance-sheet lending that could threaten the financial stability of the world’s second-largest economy.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1267799/asia-stocks-fall-after-china-aims-shadow-loans