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
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