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MNI China Daily Summary: Wednesday, October 16

EXCLUSIVE:A swap facility and a relending tool for stock buy-backs will boost liquidity in Chinese stock markets which are also likely to be buoyed by further policy stimulus this year together with official encouragement of mergers and acquisitions and a likely relaxation of limits on share allocations for institutional investors, a senior policy advisor told MNI.

LIQUIDITY: The People's Bank of China (PBOC) conducted CNY642.4 billion via 7-day reverse repos, with the rate unchanged at 1.50%. The operation led to a net injection of CNY581.4 after offsetting the maturity of CNY61 billion today. There are CNY789 billion MLF mature today, according to Wind Information.

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EXCLUSIVE:A swap facility and a relending tool for stock buy-backs will boost liquidity in Chinese stock markets which are also likely to be buoyed by further policy stimulus this year together with official encouragement of mergers and acquisitions and a likely relaxation of limits on share allocations for institutional investors, a senior policy advisor told MNI.

LIQUIDITY: The People's Bank of China (PBOC) conducted CNY642.4 billion via 7-day reverse repos, with the rate unchanged at 1.50%. The operation led to a net injection of CNY581.4 after offsetting the maturity of CNY61 billion today. There are CNY789 billion MLF mature today, according to Wind Information.

Keep reading...Show less