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Shrinking Chinese credit pushes commodities and Asian shares lower

Discussion in 'Market News' started by Lily, Nov 13, 2015.

  1. Lily

    Lily Forum Member

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    Despite six cuts in interest rates and other monetary stimulus, credit activity in the world’s second biggest economy fell to its lowest level for 15 months

    Asian shares have slumped again after commodity prices plunged to multi-year lows on worries that slower global growth may worsen a supply glut, while US Federal Reserve officials kept beating the drum for a rate hike next month.

    A broad selloff across Asia Pacific on Friday was triggered by data showing weak credit growth in October in China, the world’s biggest consumer of industrial commodities such as iron ore and copper.

    Related: Is US monetary policy Made in China?

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