The Traderszone Network

The FT report the renminbi (CNH) based overnight Hong Kong interbank offer rate, or Hibor, jumped 939 basis points – the biggest daily move ever, according to Bloomberg – to 13.4 per cent, the highest since it was launched in June 2013

As illogical as it sounds, for seven years in a row the outcome of the game has foretold the stock market’s direction for the year.

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China’s finance ministry says it will appropriately expand local government debt quota if increase in downwards pressure on economy
– Says it will limit local govt debt
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Volkswagen AG will propose to U.S. authorities a new catalytic converter system that could be fitted to about 430,000 cars capable of cheating diesel emissions tests, Chief Executive Matthias Mueller said …

Daimler AG’s (DAIGn.DE) Mercedes-Benz luxury brand will continue to enjoy growth in China, the world’s largest auto market, Daimler board member Hubertus Troska said on Sunday. Troska declined to provide a sales forecast for 2016 but said recent market volatility was not a huge concern. “We are not overly worried with what we have seen in the past days,” Troska said at a Mercedes-Benz evening event held in Detroit before the city’s auto show.

General Motors Co (GM.N) Chief Executive Officer Mary Barra said that although growth in the Chinese auto market has slowed, sales will grow significantly over the long term. The world’s biggest auto market “is going to be more volatile, but we still believe over the long term the market (will have) substantial growth,” Barra told reporters at a Detroit auto show event on Sunday night. GM’s sales in China rose 5 percent last year.

China shares slid Monday, and losses in other regional markets deepened, as a rout that knocked trillions of dollars off global stocks last week ricochets back to Asia.

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