PBoC injects CNY 526bln via 7-day reverse repos with the rate at 1.40% for a net drain of CNY 926.4bln
The PBoC's injection of CNY 526 billion via 7-day reverse repos, combined with a net drain of CNY 926.4 billion, indicates a tightening of liquidity in the market.
Seven & I (3382 JT) will raise prices for some rice products
[MARKET UPDATE] Mainland Chinese markets are firmer on return from the Lunar New Year/Spring Festival Holidays, while Hong Kong markets underperform after the prior day's rally
PBoC injects CNY 526bln via 7-day reverse repos with the rate at 1.40% for a net drain of CNY 926.4bln
[MARKET UPDATE] Precious metals retreat with spot gold down more than 1% as it pulls back from the USD 5,200/oz level, while silver dropped by around 3% with headwinds seen amid a firmer dollar post CNY-fix
PBoC sets USD/CNY mid-point at 6.9414 vs exp. 6.9249 (Prev. 6.9398)
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This suggests a cautious stance from the bank, possibly to manage inflationary pressures or stabilize the currency, impacting market expectations for future monetary policy. Watch for potential reactions in fixed income and currency markets as investors digest this shift.
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