Holiday Hangover: No Sign Of National Team As Chinese Shares Dive With Yuan

Mainland Chinese shares came off holiday and promptly plunged. This was predictable given losses in Hong Kong shares last week and considering everything mainland markets had to price in to get caught up. Over the last several days, tensions between Washington and Beijing were ratcheted up further following Bloomberg’s blockbuster “tiny spy chip” exposé and Mike Pence’s contention that China is meddling in U.S. elections, an allegation Beijing called “ridiculous”. Pence, China