MNI China Daily Summary: Monday, April 15

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

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MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Malaysian Gov't Looks Into Easing Curbs If Covid Case Count Falls Below 4,000

MYR

Spot USD/MYR has added 62 pips thus far and last trades at MYR4.1147, still within Friday's range. Bulls need a rally above Jun 4 high of MYR4.1330, before targeting May 31 high of MYR4.1480. On the flip side, losses past the 200-DMA at MYR4.1058 would clear the way to May 10 low of MYR4.0970.

  • PM Muhyiddin said that the gov't is drafting a National Recovery Plan for rebuilding the country once the Covid-19 pandemic abates. The plan is expected to be submitted to the National Security Council next week.
  • Defence Min Ismail Sabri said that the gov't is looking into the possibility of easing some restrictions if the national daily Covid-19 case count falls under the 4,000 threshold. The Star cited the Defence Min as noting that "this does not mean the ending of MCO but perhaps reviewing the rules which can be relaxed a bit and so on.
  • Influential Umno MP Tajuddin said the gov't should not be pressured to call a general election any time soon, as the country should focus squarely on combating the Covid-19 outbreak.
  • Malaysia's docket is virtually empty this week.
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