MNI China Daily Summary: Friday, April 12

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: PBOC Injects Net CNY2 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA END-MAR M2 +8.3% Y/Y VS MEDIAN +8.8%; END-FEB +8.7% Y/Y

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

Final March Inflation Reading Confirms Softening Core Dynamics

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Rupiah Firms Along Regional Peers, Indonesia's Retail Sales Estimate Rises

IDR

Spot USD/IDR trades -48 figs at IDR15,650 in line with the broader regional trend. Bears look for losses towards Oct 28 low of IDR15,523, while a rebound towards Nov 4 high of IDR15,750 would please bulls.

  • USD/IDR 1-month NDF last seen -9 figs at IDR15,647. Downside focus falls on Oct 26 low of IDR15,490, while bulls keep an eye on Nov 3 high of IDR15,838.
  • Foreign investors sold a net $12.40mn in Indonesian stocks Tuesday. The Jakarta Comp dropped but has regained poise today and last operates slightly above neutral levels.
  • Palm oil futures have faltered in Kuala Lumpur and last trade -MYR61/MT amid speculation that Malaysian stockpiles may have grown more than expected last month. The aggregate BBG Commodity Index sits ~0.2% lower.
  • Indonesia's retail sales estimate rose 4.51%Y/Y last month against the revised +4.56% recorded in September. Retailers said they were expecting an increase in sales of food, beverages and tobacco, as well as improving sales of information and communication equipment.
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