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(M1) Needle Points South

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(M1) Corrective Gains

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(M1) Resistance Remains Intact

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(M1) Remains Below The 50-day EMA

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(M1) Trading Closer To The Week's Highs

CHINA RATES

China Repo Rates Decline: Wind

     BEIJING (MNI) - China's Ministry of Commerce (MOFCOM) on Thursday gave no
sign that trade tensions with the U.S. are easing, suggesting the two sides
remain deadlocked and no talks are proceeding.
     The following are five things MNI learned from a press briefing in Beijing:
     -Spokesman Gao Feng was evasive on possible measures China will take to
counter the U.S. $200 billion tariff list. "China has to and will issue
necessary counter measures," he said.
     -China's large domestic market and strong reform momentum enable it to
counter any external shock, Gao repeated what has often been said since the
trade spat.
     -U.S. charges that China should be responsible for the trade spat were
untrue, Gao said, repeating that the U.S. was waving "tariff stick" to bully its
trade partners.
     -China again said it is for free trade and against protectionism and
unilateralism. Its complaints to the WTO regarding U.S. trade actions is for
defending trade order, Gao said.
     -Beijing is receptive towards any trade or economic agreements helpful for
integration of economies, Gao said in response to a question on China's opinion
on the EU-Japan trade deal announced earlier this week.
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
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