23 Dec 2014
Shanghai volatile as investors take profits – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team shares that Shanghai composite fell nearly 3% in the opening hour before rebounding to cover some losses as PBoC decided against increasing liquidity via repos.
Key Quotes
“Despite new highs in the US indices, Asia indices are trading with a more subdued tone. Materials in Australia and Shanghai are leading the decliners, even though mainland financials remain bid.”
“In Chinese press, a researcher with the PBoC called for the govt to support further easing of policy via a RRR cut. Separately, a PBoC survey showed 91.5% of bankers expecting monetary policy to be "moderate" or "somewhat loose" in next quarter, higher from 86.6% this quarter.”
“A Conference Report on China for the month of November rose 0.9%, but resident economist noted that real estate activity continues to deteriorate, and manufacturing and industrial output both showed significant weaknesses in November as well.”
“Also of note, PBoC decided not to inject liquidity via repos despite the rising short-term demand for funds. Shanghai Composite fell nearly 3% in the opening hour before paring much of those losses going into the afternoon break.”
Key Quotes
“Despite new highs in the US indices, Asia indices are trading with a more subdued tone. Materials in Australia and Shanghai are leading the decliners, even though mainland financials remain bid.”
“In Chinese press, a researcher with the PBoC called for the govt to support further easing of policy via a RRR cut. Separately, a PBoC survey showed 91.5% of bankers expecting monetary policy to be "moderate" or "somewhat loose" in next quarter, higher from 86.6% this quarter.”
“A Conference Report on China for the month of November rose 0.9%, but resident economist noted that real estate activity continues to deteriorate, and manufacturing and industrial output both showed significant weaknesses in November as well.”
“Also of note, PBoC decided not to inject liquidity via repos despite the rising short-term demand for funds. Shanghai Composite fell nearly 3% in the opening hour before paring much of those losses going into the afternoon break.”