This movement is entirely due to the old China Scare being run again in US holiday season. Lets get a little perspective here. If Evergrand went broke and China had to come to the party, they would have to find 300billion from their foreign reserves of 3.238trillion. (gee what a tough ask). China's liquid assets ratio stands at 24.3% whilst Australia is 10,7%. I don't think a meltdown is remote possibility. You know why? because China has not allowed significant foreign investment, it essentially lends to owns companies, so who cares, its all a storm in a teacup.
This movement is entirely due to the old China Scare being run...
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