Asia Market Movers: Chinese banks inflate lending data with short-term “phantom” loans

Wednesday, 12 Nov, 2025 News Chinese banks inflate lending data with short-term "phantom" loans Chinese banks reportedly issuing 'phantom loans' to hit targets amid weak economy Chinese banks are reportedly resorting to "quick-lend-and-recover" tactics to meet government-mandated lending quotas News Trump plans new offshore oil drilling near California and Alaska Trump to revive offshore drilling in California, Alaska and Gulf in major policy reversal Info via a Wall Street Journal (gated) report. The Trump administration is preparing to unveil a sweeping prop Learn more News Goldman forecasts 50,000 U.S. job loss in October, first since 2020 Goldman Sachs expects first U.S. job loss since 2020 as labor market cools Goldman Sachs economists expect U.S. nonfarm payrolls to have declined by around 50,000 in October, marking what would be the Central Banks PBOC sets USD/ CNY mid-rate at 7.0833 (vs. estimate at 7.1141) The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate sy Stock market update White House explores overhaul of shareholder voting rules White House weighs curbs on proxy advisers, index-fund voting power Info via a Wall Street Journal (gated) report: The White House is considering an executive order that could limit the influence of p Commodities Beware of the triple top in gold Gold has caught a bid again after weaker US jobs data on Tuesday investingLive Americas market news wrap: Weekly ADP employment cools The expectation is that the cooling jobs data ratchets up the chan News Trump says is going to lower some tariffs on coffee Trump says he will lower some tariffs on coffee. I'm not sure what venue Trump is speaking from. This wasn;t from a social media post. Here we go, it was an interview with Fox. News Australian Q3 housing finance jumps higher: Home loans +9.6% q/q (+2.6% expected) Australian data Australia Home Loans Value Q3 +9.6% q/q, fastest rise since Q1 2021 expected +2.6%, prior +2.0% Owner-Occupier Loan Value +4.7% q/q prior +2.4% Investor Loan Value +17.6% q/q prior Learn more Central Banks PBOC is expected to set the USD/CNY reference rate at 7.1141 – Reuters estimate People's Bank of China USD/CNY reference rate is due around 0115 GMT. The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as

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