PBoC sets USD/CNY mid-point at 6.9533 vs exp. 6.9385 (Prev. 6.9608)
The PBoC's setting of the USD/CNY mid-point at 6.9533, slightly above expectations, suggests a modest strengthening of the yuan against the dollar compared to the previous fixing.
PBoC injects CNY 75bln via 7-day reverse repos with the rate at 1.40% for a net drain of CNY 203bln
PRE-MARKET CHINESE STOCKS NEWS: Chinese RatingDog Services and Composite PMI data is scheduled today
PBoC sets USD/CNY mid-point at 6.9533 vs exp. 6.9385 (Prev. 6.9608)
PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Singtel (ST SP) and KKR will acquire Singapore-based ST Telemedia Global Data Centres for SGD 6.6bln
Anthropic plans employee tender offer at USD 350bln valuation
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This adjustment could indicate the central bank's attempt to support the yuan amid ongoing economic pressures, potentially influencing risk sentiment and cross-asset flows in the region.
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