Something Just Snapped Again In China – B-Shares Crash Most In 4 Months

• Something Just Snapped Again In China – B-Shares Crash Most In 4 Months
  by Tyler Durden, www.zerohedge.com  
  Update: *SHANGHAI B-SHARE INDEX PLUNGES 7.8%
  *SHANGHAI B-SHARE INDEX TUMBLES MOST IN FOUR MONTHS
  As we detailed earlier…
  We have seen this pattern before. In August, the first thing to tumble was Yuan FX rates, then money market rates exploded, and then the stock market tumbled. While it is a little premature, today’s sudden plunge in Chinese stocks (as the afternoon session opens) following last week’s spike in money market rates following the previous week’s non-stop weakness in the Yuan does have a concerning smell of deja vu all over again.
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  Just as we saw in August, Yuan weakness was followed by sudden surge in money market rates (which was followed by a collapse in stocks)
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  (note – while we would expect some year-end window-dressing shenanigans in money-markets, the fact that ‘panic’ has not unspiked this time in 1 week HIBOR is concerning)
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  read more.

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