Hong Kong Interbank borrowing rates spiked to 6-month highs as a combination of central-planning-inspired liquidity restriction and global ‘risk-off’ strikes. 3M HIBOR spiked 95bps to 4.21% – its highest in 6 months; and Chinese stocks are feeling the pain, tumbling most in 3 months. Having reached historical lows in volatility, it appears ‘pent-up’ anxiety is coming back with fury. The broad-based MSCI Asia APEX 50 index is down 3.5% – the most in 8 months…
This could be a problem…
And Chinese stocks are displeased…
India is down most in a month…
And Indonesia is down most in 7 months…
“It’s probably nothing”
Charts: Bloomberg
Leave A Comment