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Chinese stocks are giving back some....>

CHINA STOCKS
CHINA STOCKS: Chinese stocks are giving back some of yesterday's gains with
H-shares underperforming as the Hang Seng trades 2.4% lower on the day after
losing the key 26000 level early on.
- Mainland indices are down between 1-2% with the Shenzhen Composite testing
resistance-turned-support at the 3200 level. A break back below here would put
Chinese policymakers in a bind given recent heightened efforts to support the
market. 
- USDCNH remains below resistance at 6.95, currently trading 6.9457 as
volatility has dropped sharply in recent trading. Further weakness in stocks
though would remove a major pillar of support for the yuan, likely triggering
fresh USDCNH gains. 

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