Chinese Shares Soar As Tencent Passes Facebook

Asian shares staged one helluva rally overnight, shaking off jitters about China's renewed efforts to rein in a labyrinthine shadow banking complex that's so littered with duration mismatch and cross-holdings that trying to untangle it is probably an exercise in abject futility. New rules for AMPs dented sentiment in Chinese shares on Monday, but thanks to a characteristic afternoon rally, Chinese markets ended higher. On Tuesday, it was off to the races. The SHCOMP rose 0.55% but the CSI 300