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EQUITIES

Better buying on the cash open lacks momentum

CROSS ASSET

Equities spill over into Bond and FX

MNI Survey Of China Economic Forecasts

     BEIJING (MNI) - All figures y/y percentage change unless otherwise
specified.
                                          New Loans      TSF
                     CPI   PPI        M2       Aug.     Aug.
                    Aug.  Aug.  End-Aug.    CNY Bln  CNY Bln
------------------------------------------------------------
Median               1.7   5.7       9.1        950     1325
High                 1.8   6.0       9.5       1200     1600
Low                  1.3   4.5       8.8        700     1100
Mean                 1.7   5.6       9.1      930.8     1325
No.                   21    21        19         19       12
Previous             1.4   5.5       9.2        826     1220
BAML                 1.7   5.7       9.3        900     1600
BankComm             1.6   5.7       9.4        950       na
Capital Economics    1.7   5.6       9.1        900     1400
CITIC Sec            1.7   5.9       9.1        850       na
CICC                 1.7   5.9       9.2       1200     1500
China Sec            1.7   5.9       9.1        850       na
Guotai Junan         1.8   6.0       8.8        850     1300
Huachang Sec         1.6   5.6       9.3        950       na
Huatai Sec           1.6   5.8       9.2       1000     1400
Industrial Bank      1.8   5.7       9.2        950     1250
ING                  1.8   5.3       9.1       1075       na
Macquarie            1.7   5.8       9.2       1000       na
Merchant Sec         1.6   5.8       8.8        700     1100
Mizuho               1.6   5.7       9.2        900       na
Natwest              1.6   5.1        na         na       na
Nomura               1.6   5.8       8.9        850     1150
Sinolink Sec         1.7   5.6       9.1        900     1150
Southwest Sec        1.3   4.5       9.5         na       na
Shenwan Hongyuan     1.6   5.5       9.1        950     1400
Standard Chartered   1.7   5.7       9.0        960     1300
UBS                  1.6   5.6        na        950     1350
                   Trade Bal  Exports  Imports
                        Aug.     Aug.     Aug.  Investment  Output  Retail Sales
                        $Bln      $ %      $ %    Jan-Aug.    Aug.          Aug.
--------------------------------------------------------------------------------
Median                  48.4      6.5     10.0         8.2     6.6          10.5
High                    54.6     11.1     15.5         8.5     6.8          10.8
Low                     34.0      4.7      6.5         8.0     6.0          10.0
Mean                    47.8      6.9     10.0         8.2     6.6          10.4
No.                       17       21       21          19      20            18
Previous                46.7      7.2     11.0         8.3     6.4          10.4
BAML                    54.6      9.0      9.0         8.1     6.8          10.6
BankComm                53.0      9.0     10.0         8.0     6.2          10.5
Capital Economics       34.0      8.0     10.0         8.5     6.0          10.5
CITIC Sec                 na      5.0      7.0         8.3     6.6          10.2
CICC                    51.0      8.2     10.5         8.2     6.5          10.6
China Sec                 na      5.0      7.0         8.3     6.6          10.2
Guotai Junan            47.5      7.6     11.0         8.0     6.5          10.8
Huachang Sec            51.7      5.6      6.5         8.2     6.5          10.5
Huatai Sec              45.0      6.0     11.5         8.3     6.8          10.0
Industrial
Bank                    49.0      9.0     13.0         8.3     6.5          10.4
ING                     45.7      5.1     10.0         8.2     6.2          10.1
Macquarie               45.1      6.0      9.0         8.1     6.5          10.3
Merchant Sec            49.2      6.5      9.5         8.2     6.7            na
Mizuho                  46.7      6.0     10.0         8.3     6.7          10.5
Natwest                 50.0      4.7      6.5          na      na            na
Nomura                  44.7      5.0     10.0         8.3     6.8          10.2
Sinolink Sec              na      7.0     10.5         8.2     6.6          10.4
Southwest Sec             na     11.1     15.5          na     6.7          10.6
Shenwan Hongyuan        48.6      8.0     12.0         8.2     6.7          10.6
Standard
Chartered               48.4      8.0     12.0         8.2     6.7          10.6
UBS                     48.3      6.0      9.5         8.1     6.6            na
     Note: The survey median is compiled solely from the forecasts listed above
and is not intended to represent a market consensus.
     August trade data due for release on Sep. 8.
     August CPI, PPI due for release at 0930 local/0130 GMT Sep. 9.
     August industrial output, retail sales and fixed-asset investment due for
release at 1000 local/0200 GMT on Sep 14.
     August money supply, bank loans and total social financing expected to be
released between September 11 and 15. Date and time uncertain. 
--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: beijing@mni-news.com