China Stock Market

ICYMI - Top Chinese ship finance leader detained for investigation - COSCO chairman

• Joins the list of targetted executives in China

China's Health Ministry says the surge in respiratory illnesses not a novel virus

• China's Health Ministry says the surge is caused by flu and other known pathogens

Boosting financial support for private firms: the People's Bank of China takes action

• PBOC signaling increased simulus assistance for the sector

China Industrial profits for October YTD -7.8% (prior -9.0%)

• China's Industrial profits for October show the contraction in earnings abating slightly

PBOC sets USD/ CNY reference rate for today at 7.1159 (vs. estimate at 7.1461)

PBOC is expected to set the USD/CNY reference rate at 7.1461 – Reuters estimate

PBOC sets USD/ CNY reference rate for today at 7.1151 (vs. estimate at 7.1440)

• People's Bank of China CNY reference rate setting for the trading session ahead.

PBOC is expected to set the USD/CNY reference rate at 7.1440 – Reuters estimate

• The PBOC will intervene if the yuan moves more than 2% from the daily reference rate

PBOC sets USD/ CNY mid-point today at 7.1212 (vs. estimate at 7.1512)

• USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.

PBOC is expected to set the USD/CNY reference rate at 7.1512 – Reuters estimate

Chinese Government advisers recommend economic growth target of 5% for 2024

• The proposals will be made at the Communist Party's annual Central Economic Work Conference.

Goldman Sachs say Chinese stocks could post their first index gains in four years in 2024

• Goldman Sachs forecasts MSCI China and CSI 300 to increase by 12% and 15%, respectively.

PBOC sets USD/ CNY mid-point today at 7.1254 (vs. estimate at 7.1468)

• The People's Bank of China setting the onshore yuan exchange rate

PBOC is expected to set the USD/CNY reference rate at 7.1468 – Reuters estimate

• The People's Bank of China successfully defended the yuan from weakening excessively

Northvolts breakthrough battery with no critical minerals could minimise reliance on China

• A  “breakthrough” sodium-ion battery