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The Latest Breaking News from PBOC

Stocks Set to Open Mixed as Investors Await FOMC Minutes, U.S. Payrolls Data

September S&P 500 futures (ESU23) are down -0.08%, and September Nasdaq 100 E-Mini futures (NQU23) are up +0.01% this morning at the start of a holiday-shortened week, with market participants looking ahead to the release of the minutes of the Federal Reserve’s latest policy meeting as well as Friday’s nonfarm…

Barchart

Stocks Set to Open Higher as Investors Await FOMC Minutes, U.S. Payrolls Data

September S&P 500 futures (ESU23) are up +0.03%, and September Nasdaq 100 E-Mini futures (NQU23) are up +0.26% this morning at the start of a holiday-shortened week, with market participants looking ahead to the release of the minutes of the Federal Reserve’s latest policy meeting as well as Friday’s nonfarm…

Barchart

Ex-PBOC Deputy Head Arrested on Suspicion of Bribery

Fan Yifei now faces criminal investigations, China’s top prosecutor says

Caixin Global

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Stocks Fall on Chinese Economic Concerns and Wariness Ahead of Fed Chair Powell

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.77%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.88%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.73%. U.S. stocks this morning are moderately lower. U.S. stocks...

Barchart

Markets Today: Stocks Slip on China Economic Concerns and Higher Bond Yields

Morning Markets September E-Mini S&P 500 futures (ESU2 3) this morning are down -0.33%, and Sep Nasdaq 100 E-Mini futures (NQU2 3) are down -0.28%. U.S. stock index futures this morning are moderately lower. Negative carry-over from a decline in Chinese stocks is weighing on U.S. stock index futures on...

Barchart

Stocks Rebound on Hopes Fed is Near the End of its Rate Hike Campaign

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.46%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.68%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.41%. U.S. stocks this morning shook off early losses and...

Barchart

PBOC Cuts Short-Term Rates for Banks in Further Sign of Easing

Reduction in monetary policy tool follows a cut in another key lending rate and may signal more central bank action to bolster the economy

Caixin Global

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Markets Today: Stocks Rally on Favorable U.S. May CPI Report

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are up +0.25% at a 13-1/2 month high, and June Nasdaq 100 E-Mini futures (NQM2 3) are up +0.55% at a 14-month high. U.S. stock index futures this morning are moderately higher after today’s U.S. consumer price report for...

Barchart

Ex-PBOC Deputy Governor Kicked Out of Communist Party

Fan Yifei, arrested last November by graft busters, accused of accepting a ‘huge amount’ of bribes and abusing power ‘over a long period of time’

Caixin Global

Markets Today: Stock Index Futures Mixed on Pressure from Higher Bond Yields

Morning Markets June S&P 500 futures (ESM2 3) this morning are up +0.02%, and June Nasdaq 100 E-Mini futures (NQM2 3) are down -0.03%. U.S. stock index futures this morning are mixed. An increase in M&A activity is positive for stocks after Merck said it would acquire Prometheus Biosciences for...

Barchart

Opinion: China’s Latest Financial Overhaul Marks Shift From U.S. Model, but Risks Remain

A financial system lacking commercial independence will likely become a new area of concern

Caixin Global

Brazil Joins China’s Drive to Boost Yuan’s Global Use

Banco Bocom BBM becomes first lender in South America to join China’s yuan cross-border payments system CIPS, weeks after ICBC’s Brazilian branch was appointed the country’s yuan clearing bank

Caixin Global

China Sticks With Its Central Bank Governor and Finance Minister

The decision to avoid a sweeping leadership reshuffle in both departments comes as the country undergoes a transition to a new administration led by Premier Li Qiang

Caixin Global

Wang Tao: Takeaways From China’s Government Work Report

UBS has upgraded its GDP growth forecast for the country to 5.4% for 2023 and 5.2% for 2024

Caixin Global

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PBOC to Keep Yuan Steady Against the Dollar, Yi Gang Says

The central bank chief promises to maintain a market-driven approach following the currency’s increasingly wide swings in recent years

Caixin Global

China Central Bank Completes Trillion Yuan Profit Transfer to Treasury

Transfer of $162 billion to finance ministry, equivalent to around 50-basis-point cut to reserve requirement ratio, to support the economy

Caixin Global

Another Central Bank Official Snared in Graft Probe

The investigation into Li Guo may be related to a broader inquiry into corruption in nonbank payment licenses, sources say

Caixin Global

China’s Central Bank Puts to Bed Rumor About List of Quality Developers

Lenders can decide which firms qualify for credit support under a new government plan, a PBOC official says

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Caixin Global

PBOC to Cut Banks’ Reserve Requirement Ratio to Support Economy

The 25 basis-point reduction, effective Dec. 5, follows a cut of the same magnitude in April, and will free up around $70 billion of cash for lending

Caixin Global

China and Pakistan Set Up Offshore Yuan Clearing

South Asian nation becomes third country to do so this year, enabling use of Chinese currency in cross-border trade and investment

Caixin Global

Shanghai Composite Index Rose 2.62% on Tuesday

Shenzhen Component Index closed up 3.24%

Caixin Global

Digital Yuan Puts Priority on Privacy Protection, PBOC Chief Says

Central Bank Governor Yi Gang outlines e-CNY measures to protect personal data while combatting illicit activities

Reuters

China central bank head likely to step down amid reshuffle

China's central bank chief Yi Gang is likely to step down after he was dropped from an elite body of the ruling Communist Party, with a former central banker a leading contender to succeed him, sources close to the central bank said.

Bangkok Post

China gears up for yuan defence

China’s central bank has asked major state-owned banks to be prepared to sell dollars for the local unit in offshore markets as it steps up efforts to stem the descent of the yuan, four sources with knowledge of the matter said.

Bangkok Post

Plunging markets spur new intervention warnings across Asia

After some of the most dramatic declines in global financial markets since the Federal Reserve began lifting borrowing costs six months ago, authorities in Asia are stepping up efforts to prevent a downward spiral.

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