PBoC auctions 3-month and 1-year yuan bills in Hong Kong at 1.53% and 1.47, respectively

The PBoC's auction of 3-month and 1-year yuan bills at rates of 1.53% and 1.47% reflects their ongoing stance on monetary policy and liquidity management.

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PBoC auctions 3-month and 1-year yuan bills in Hong Kong at 1.53% and 1.47, respectively

HSBC (5 HK) Q4 (USD) net 4.7bln (prev. 197mln), pre-tax profit 6.8bln (prev. 2.3bln), NII 9.2bln (prev. 8.2bln), FY profit after tax 23.1bln (prev. 25.0bln Y/Y), rev. rose 4% Y/Y to 68.3bln

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These rates suggest a cautious approach amidst global rate adjustments, potentially signaling continued support for the yuan while also indicating the central bank's focus on stabilizing domestic conditions. Market participants should watch for any shifts in the rate path as this could impact the CNY and the broader risk sentiment in Asia.

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