10 PM After-Hours Flash: Bank Lending — Actual: 902.3
Builders just got slammed with the weakest bank lending numbers in months.
China’s latest bank lending data came in at 902.3 billion yuan... that’s up from last month’s 893.6, but still well below what markets were hoping to see. The slowdown signals Chinese banks remain cautious even as Beijing tries to juice the economy.
This softer credit pulse is rippling through Asian markets right now. Hong Kong’s Hang Seng is under pressure, Japanese and Australian futures are also drifting lower as traders price in slower growth out of the world’s second-largest economy.
The numbers add fresh fuel to the debate over whether China’s stimulus is actually landing where it counts. For tomorrow’s SPX and VIX open, watch how U.S. traders digest this... any sign that China’s credit engine is sputtering usually means higher volatility and pressure on risk assets.
Russell Clark's Morning Outlook is coming up at 8:05. I am your VixShield news reporter.