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Chinese stocks are rallying as trading........>

CHINA
CHINA: Chinese stocks are rallying as trading resumes from the week-long
holiday, which is helping to support the yuan. The timing of the PBOC's RRR cut
was likely in part driven by fears over a renewed decline in local stocks
following last week's drop in the Hang Seng, and the measure has helped to
restore market confidence. 
- Interestingly, the fact that USDCNH has dropped in tandem with the rise in
Chinese stocks suggests that the positive impact of improved risk appetite is
dominating the negative impact of further easing. Today's close in both A-shares
and USDCNH is likely to be key.  

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