MNI China Daily Summary: Thursday, July 18

MNI BRIEF: China To Upgrade Rural Land Reform: 3rd Plenum

MNI BRIEF: China's Third Plenum Eye's Deeper Financial Reform

MNI BRIEF: China Third Plenum Expands International Opening

MNI China Press Digest July 18: PBOC, Beijing, Arctic Shipping

MNI: PBOC Net Injects CNY47 Bln Via OMO Thurs; Rates Unchanged

MNI: EUROZONE MAY CONSTRUCTION OUTPUT -0.9% M/M, -2.4% Y/Y

UK private regular wage growth shows big drop in single month figures

TLFS transition delayed again

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

1 Month Ends Last Week under 1330, Govt To Unveil "Value Up" Program For Local Stocks

KRW

1 month USD/KRW rose post the Asia close on Friday. The pair ending near 1328.4, slightly weaker in won terms for the session, but still up modestly for the week. Note onshore spot ended Friday's session at 1331.10.

  • For the 1 month NDF we remain within Feb ranges. Recent lows near 1320 are intact, while the 50-day EMA near 1324 has been a support point this month. On the topside the 20-day EMA is near 1329.2, while firmer resistance is likely on any probes to 1340 or above this level.
  • Last week the focus was largely on better global equity trends, particularly in the tech space, against Fed push back against early rate cuts.
  • To recap, the SOX slip over 1% in Friday trade while the MSCI IT lost 0.25%, after very strong Thursday gains (post the Nvidia result). The Kospi was 0.13% higher on Friday, while offshore investors added $44.1mn to local stocks, bringing last week's inflows to $740.7mn.
  • The authorities are expected to announce a 'value up' program to resolve the so-called 'Korea discount' for local stocks today (per BBG).
  • The local data calendar is empty today, with the main focus this week on Friday's Feb trade data.
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.