MNI China Daily Summary: Tuesday, June 11

MNI BRIEF: China SME Index Down Slightly In May

MNI: PBOC Net Drains CNY2 Bln Via OMO Tues; Rates Unchanged

MNI BRIEF: Brazil May Inflation 3.93% As Floods Push Up Prices

MNI: PBOC Sets Yuan Parity Higher At 7.1135 Tues; -1.61% Y/Y

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

MNI: US REDBOOK: JUN STORE SALES +6.0% V YR AGO MO

MNI: CANADIAN APR BUILDING PERMITS +20.5% MOM

US NFIB MAY SMALL BUSINESS INDEX 90.5

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

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

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

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Won Gains For Second Session

KRW

The won has gained again, higher for the second consecutive day. USD/KRW last down 4.50 at 1098.40 as the greenback holds modest losses and positive risk sentiment supports Asia assets.

  • Foreign funds bought a net $766.7m of Korean stocks yesterday, bringing the total net purchases this week to around $1.4bn. The index is higher again today, up around 0.6% after posting a 2.61% rise yesterday.
  • USD/KRW, the rate has closed above the 50-DMA twice, keeping momentum bullish and possibly laying the foundation further rally toward the 100-DMA. December high of 1110.50 is next significant resistance. Bulls look for a break above yesterday's high at 1107. Support is seen at the January 8 low of 1090, and the cycle low of 1080.
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