MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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On-Going Equity Strength Keeps USD/KRW Upticks Sold

KRW

1 month USD/KRW finished the NY session just above 1241, close to session lows for Wednesday. We remain above Monday lows though, which came in just under 1235. The positive tone to offshore equities helped cap USD/KRW upside, with moves above 1248 drawing selling interest through NY trade. Onshore spot ended yesterday's session at 1246.05.

  • To recap, the Kospi gained 0.35% for yesterday's session, with offshore investors adding $146.7mn to local shares, bringing week to date net inflows to $641mn. The lead remains positive today (SOX +1.25%, MSCI IT +1.72% for Wednesday's session).
  • On the data front today, bank lending to households for Dec is due, which won't be a market mover.
  • Tomorrow the BoK decision is due, with the consensus looking for a 25bp hike, although some are calling for a pause. Our full preview will be out later today.
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