MARKETS SPECTATOR: Beijing credit cuffs our market

Nomura believes a dire Chinese credit report over weekend confirms the increasingly bearish view forming on the Australian market.

A weekend report on Chinese credit was a real “eye opener” for a bearish view of markets, says Nomura analyst Tim Rocks.

Total social financing, China's widest measure of credit, fell by about one-third in May from April, the second month of substantial decline, according to the People's Bank of China.


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