MNI China Daily Summary: Thursday, Aug 22

MNI: PBOC Sets Yuan Parity Lower At 7.1228 Thurs; +2.24% Y/Y

MNI: PBOC Net Drains CNY218.4 Bln via OMO Thursday

CHINA PBOC CONDUCTS CNY359.3 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1228 THURS VS 7.1307

MNI BRIEF: BOK Holds Rate, Downgrades GDP, CPI View

MNI: UK AUG CBI INDUSTRIAL TRENDS TOTAL ORDERS -22

MNI: UK AUG FLASH MANUF PMI 52.5 (FCST 52.2); JUL 52.1

MNI: EUROZONE AUG FLASH MANUF PMI 45.6 (FCST 45.8); JUL 45.8

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Cyclical Stocks Leading Europe Lower

EQUITIES
  • Asian markets closed lower: Japan's NIKKEI closed down 244.87 pts or -0.91% at 26804.6 and the TOPIX ended 13.81 pts lower or -0.72% at 1893.57. China's SHANGHAI closed down 47.692 pts or -1.4% at 3361.518 and the HANG SENG ended 422.08 pts lower or -1.88% at 21996.89.
  • European equities are also lower, following on from Tuesday's U.S. stock weakness. Cyclical stocks are dragging on the index, including industrials and tech, with the German Dax down 169.78 pts or -1.28% at 13302.72, FTSE 100 down 33.67 pts or -0.46% at 7359.99, CAC 40 down 41.59 pts or -0.68% at 6139.11 and Euro Stoxx 50 down 27.18 pts or -0.77% at 3567.32.
  • U.S. futures are finding their feet, with the Dow Jones mini up 44 pts or +0.14% at 30977, S&P 500 mini up 4.25 pts or +0.11% at 3829.75, NASDAQ mini up 15.5 pts or +0.13% at 11689.75.
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