One-Week Anniversary Of Hong Kong Euphoria Brings Harsh Reality Check

Mainland shares in China fell for a fifth consecutive session on Friday amid concerns about a directive that requires large banks to dedicate 1/3 of new lending to private enterprise and fresh signs that the country's auto market is headed for its first annual decline in twenty years. The directive to banks was seen as a sign of panic among investors as Beijing struggles to cope with a string of defaults and support private enterprise at a particularly delicate juncture. As far as auto sales ar