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CHINA: Country Wrap: China Probes Apple’s Policies. 

CHINA
  • China’s antitrust watchdog is laying the groundwork for a potential probe into Apple Inc.’s policies and the fees it charges app developers, part of a broader push by Beijing that risks becoming another flashpoint in the country’s trade war with the US. (source: BBG).
  • The decision by President Donald Trump to ban Chinese companies from using a US tariff loophole will hit tens of billions of dollars of trade and reduce China’s economic growth this year, according to new estimates by economists at Nomura Holdings Inc. (source: BBG)
  • McKinsey & Co. partners have been questioning the consulting giant’s presence in China, worried that doing business there may not be worth the risks given the Asian superpower’s increasingly volatile relationship with the US. (source: BBG)
  • China’s major bourses are having a strong day today with CSI 300 leading the way, up +0.80%, Hang Seng +0.45%, Shanghai +0.81% and Shenzhen +1.79%.
  • CNY: Yuan Reference Rate at 7.1691 Per USD; Estimate 7.2663
  • Bonds: bond markets remain very quiet, trapped in tight ranges. CGB 10YR 1.61% (-1bp)
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  • China’s antitrust watchdog is laying the groundwork for a potential probe into Apple Inc.’s policies and the fees it charges app developers, part of a broader push by Beijing that risks becoming another flashpoint in the country’s trade war with the US. (source: BBG).
  • The decision by President Donald Trump to ban Chinese companies from using a US tariff loophole will hit tens of billions of dollars of trade and reduce China’s economic growth this year, according to new estimates by economists at Nomura Holdings Inc. (source: BBG)
  • McKinsey & Co. partners have been questioning the consulting giant’s presence in China, worried that doing business there may not be worth the risks given the Asian superpower’s increasingly volatile relationship with the US. (source: BBG)
  • China’s major bourses are having a strong day today with CSI 300 leading the way, up +0.80%, Hang Seng +0.45%, Shanghai +0.81% and Shenzhen +1.79%.
  • CNY: Yuan Reference Rate at 7.1691 Per USD; Estimate 7.2663
  • Bonds: bond markets remain very quiet, trapped in tight ranges. CGB 10YR 1.61% (-1bp)