MNI China Daily Summary: Wednesday, October 16

MNI: ITALY FINAL HICP +1.2% M/M, +0.7%Y/Y

MNI BRIEF: BOJ's Adachi Sees Conditions For Normalisation

MNI: PBOC Net Injects CNY581.4 Bln via OMO Wednesday

CHINA PBOC CONDUCTS CNY642.4 BLN VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1191 Weds; +2.66% Y/Y

US MBA: REFIS -26% SA; PURCH INDEX -7% SA THRU OCT 11 WK

MNI: US MBA: MARKET COMPOSITE -17.0% SA THRU OCT 11 WK

MNI: UK SEP OUTPUT PPI -0.5% M/M, -0.7% Y/Y

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

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Asia’s Gasoline Margins Hitting 6-Week Low: Reuters

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Asia’s gasoline refining margins have fallen to the lowest level in more than six weeks, according to Reuters.

  • However, the naphtha crack was slightly up on the day to a $75.85/mt premium over Brent.
  • This comes as light distillate stocks in Fujairah built for the first time in four weeks to 6.154m mt.
  • Moreover, China’s gasoline demand is proving below expectations.
  • Gasoline sales in China are not seeing a usual boost from holiday travel due to use of electricity-driven high-speed rail and new energy vehicles, according to Bloomberg.
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Asia’s gasoline refining margins have fallen to the lowest level in more than six weeks, according to Reuters.

  • However, the naphtha crack was slightly up on the day to a $75.85/mt premium over Brent.
  • This comes as light distillate stocks in Fujairah built for the first time in four weeks to 6.154m mt.
  • Moreover, China’s gasoline demand is proving below expectations.
  • Gasoline sales in China are not seeing a usual boost from holiday travel due to use of electricity-driven high-speed rail and new energy vehicles, according to Bloomberg.