“Trees cannot grow to the sky, and high leverage will undoubtedly bring high risks. If it’s not controlled it will cause a systemic financial crisis and cause the economy to contract and even evaporate ordinary people’s savings,” according to the People’s Daily. “We can’t and there’s no need to use more leverage to boost economic growth.”
Related: China A-Shares ETFs Bounce on Beijing’s Support
Additionally, a weakening U.S. dollar dragged on metals prices Monday. The USD appreciated after Federal Reserve Bank of New York President William Dudley reaffirmed that it remained a “reasonable expectation” that the Fed would raise interest rates two times this year.
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iShares MSCI Global Metals & Mining Producers ETF