AsiaPac Stocks Plunge Most In 8 Months As China Money Market Turmoil Accelerates

Hong Kong Interbank borrowing rates spiked to 6-month highs as a combination of central-planning-inspired liquidity restriction and global 'risk-off' strikes. 3M HIBOR spiked 95bps to 4.21% - its highest in 6 months. Chinese stocks are feeling the pain, tumbling most in 3 months. Having reached historical lows in volatility, it appears 'pent-up' anxiety is coming back with fury. The broad-based MSCI Asia APEX 50 index is down 3.5%, the most in 8 months...

And Chinese stocks are displeased...

India is down most in a month...

And Indonesia is down most in 7 months...

"It's probably nothing"....