Free Trial

Late Equity Roundup: Mildly Lower on Week


Remains Above The 50-Day EMA

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
MNI (Singapore)

The following lists highlights from Chinese press reports on Wednesday:

  • The Chinese yuan is expected to remain strong against the U.S. dollar in the short term due to high domestic demand for FX settlement, despite that China-U.S. interest spread narrowed after the PBOC cut major policy rates this week, the 21st Century Business Herald reported citing analysts. However, the currency may weaken to 6.55 against the dollar by the end of 2022 as the room for further appreciation is limited should the Federal Reserve hikes rates and China’s current account surplus decreases, the newspaper said. Both the onshore and offshore yuan rose above 6.34 on Tuesday, the highest since May 2018.
  • The People’s Bank of China is likely to cut interest rates once or twice following a 10-bp cut to major policy rates this week, possibly in March or June, as it may need to further boost credit and help stabilize growth before the Federal Reserve begins rate hikes, wrote Ming Ming, deputy research head of CITIC Securities, in the 21st Century Business Herald. The PBOC is also expected to further lower the reserve requirement ratios and introduce more structural tools, said Ming. In the medium term, monetary policy tends to loosen, and the interest rate of China Government Bonds has room to fall further, Mind said.
  • The Shanghai government seeks to expedite the issuances of bonds for infrastructure in the first half, so as to accelerate projects and stimulate growth, the China Securities Journal reported. Shanghai plans to complete more than CNY200 billion major projects including ports, railway, rail transit, water conservancy and underground pipeline, the newspaper said citing an official document. The government will also launch several major technology-enabled projects including smart hospitals, factories and transportation, guiding more private capital to invest in these areas by offering special loans with preferential interest rates, the newspaper said.

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.