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CPI As Expected, PPI Slightly Weaker Than Forecast

CHINA DATA

China headline CPI was as expected, +0.2% y/y (down 0.2% m/m). PPI was slightly weaker than forecast -4.6% y/y, versus -4.6% forecast. USD/CNH got to a high of 7.1283 post the data, but has now retraced back to the low 7.1200 region. Hong Kong equities have opened firmer, led by tech. Onshore equities are little changed. More details to follow.

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