No more than a newswire headline at this stage.
Likely related to:
Chinese bank ICBC refuses to bail out an investment trust product – default a strong possibility
Consists of debt to Zhenfu Energy Group, a struggling coal miner
That’s from January 17.
Which seems to be being resolved today (January 24):
Don’t panic … China’s ICBC says will help bail out investors in troubled shadow-banking scheme
–
AUD losing a little ground since the headline hit. Only a little at this stage, though.
NZD lower. USD/JPY also lower.
