Shanghai slid 2.4% overnight led by energy shares falling back to 2008 levels, and as Goldman cuts its forecasts for miners. It's not just lower prices, says Goldman, but rising volatility makes it more difficult to manage inventory and hedging. The squeeze in the country's money-markets is likely to reduce credit growth by $122B this year, according to a Bloomberg survey - the equivalent of the size of Vietnam's economy. The China 25 Index ETF (FXI), however, is +0.3% premarket.
Shanghai slid 2.4% overnight led by energy shares falling back to 2008 levels, and as Goldman...
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