USD/CNH sits at CNH6.9884, 7 pips........>

CHINA YUAN: USD/CNH sits at CNH6.9884, 7 pips worse off. Participants have

assessed today's coronavirus update from China's Hubei after y'day's revision to

the methodology of confirming new cases. The number of infected patients in the

region rose by 4,823 with 116 new fatalities & 690 persons deemed recovered.

- Alibaba warned that the novel coronavirus will have a major impact on Chinese

economy & its own earnings, as the tech giant reported strong results for Q4.

- Elsewhere, the U.S. invoked a historical anti-mafia law to accuse Huawei of

intellectual property theft. At the same time, U.S. Commerce Dept extended the

company's temporary licence by another 45 days.

- Kyodo reported that China may delay the Mar meeting of a national legislature.

- A push above the 200-DMA/round figure at CNH6.9977/7.0000 would open up the

Feb 4 high of CNH7.0231. Bears look for a dip below the 50-DMA at CNH6.9672

before targeting the Feb 12/6 lows of CNH6.9575/73.

- China will report flash Q4 BoP current account balance at some point to day.

New lending data may also hit as soon as today. Looking further afield, the PBoC

will announce its LPR fixing next Thursday.