MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

NBH Data Watch

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Won Recovers Ground, But Tech Equities Softer

KRW

1 month USD/KRW moved lower post the Asia-close, settling in the low 1280 region. Cross asset signals are mixed for the won though ahead of today's session, there is little in the way of domestic event risks to note.

  • Yesterday's bout of won strength proved to be short lived. The much weaker than expected China activity data took the pair back above 1280.
  • The 1 month USD/KRW NDF softened post the Asia close though, as broader USD sentiment weakened and US yields edged down. We closed NY at 1281 (note spot ended yesterday at 1284).
  • Still, the weaker finish for US tech stocks, Nasdaq -1.20% and SOX semiconductor index -1.69%, may present headwinds today. The Kospi finished down 0.30% yesterday, while foreign investors were small net sellers of local equities (-$15.8mn).
  • There is little in the way of domestic event risks today. The market will still be mindful of the authorities stepped up rhetoric around stabilizing markets. This could come into play if we see a spike above 1290 in USD/KRW.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletHomepagemarkets-real-timeBulletMarketsEmerging Market NewsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletHomepagemarkets-real-timeBulletMarketsEmerging Market NewsForeign Exchange Bullets

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