FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

HK Equity Rebound Weighs On USD, Boosts CNH

CROSS ASSET

Risk appetite has firmed somewhat since the Hong Kong equity market open. The HSI is up nearly 2%, just off session highs in recent dealings. The properties sub-index is up 2.30% at this stage. Reports that Shenzhen plans to relax the floor for mortgage rates for first home buyers appears to be aiding sentiment (see this link).

  • The HS TECH index is +2.7% so far, hence we are seeing broad based gains, after a relatively poor Q3 for HK equities (today being the last trading day of the quarter).
  • Spill over from today's rebound is evident in terms of the BBDXY down -0.12%, with NZD (+0.50%) and AUD (+0.35%) outperforming. Yen is lagging (flat at 149.30). USD/CNH is also lower, last near 7.2840, around 0.15% firmer in CNH terms versus NY closing levels.
  • US equity futures are down, but away from lows for the session. US bond yields 1-2.5bps firmer across key parts of the curve.
  • Metal commodities are higher, with iron ore and copper extending gains from Thursday.
EM BulletFixed Income BulletsHomepageCommoditiesEquitiesBulletMarketsEmerging Market NewsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.