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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CHINA
- In its MP implementation report for Q4, the PBoC reiterated its promise to increase financial support for the real economy, which has been struggling in the past year due to the zero-Covid policy.
- The PBoC seeks lower lending rates for enterprises and is asking banks to effectively expand loan issuance.
- We saw this week that China total aggregate financing rose significantly more than expected in January, up 6.17tr CNY (vs.5.4tr CNY expected), up from revised 2.368tr CNY the previous month.
- The annual change in ‘liquidity’ which we define as the annual change in China Total Social Financing (TSF) 12M sum, continues to recover sharply from its October lows and could support risky assets (i.e. equities) in 2022, which are still trading at 'depressed' levels.
- Hang Send Index is now up 10% from its January low and has been testing its 24,970.40 resistance in the past few days, which corresponds to the 61.8% Fibo retracement of the 21,139-31,168 range.
- A break above that level would open the door for a move up to 25,974.20 (200DMA).
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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