China Stock Market

China has begun enforcing a tax on overseas investment gains by the country’s ultra-rich

PBOC is expected to set the USD/CNY reference rate at 7.0840 – Reuters estimate

• PBOC CNY reference rate setting for the trading session ahead.

Chinese state media report on Goldman Sachs raising its forecast for China economic growth

• 4.9% for this year, 4.7% the next

China 'stimulus' briefing: support for business and consumers, financing costs lowered

• This news conference is being conducted by China's Infrastructure Ministry, Ministry of Industry and Information Technology, and State Administration for Market Regulation

PBOC sets USD/ CNY reference rate for today at 7.0723 (vs. estimate at 7.0722)

• PBOC CNY reference rate setting for the trading session ahead.

Bright spots in China's Ministry of Finance weekend briefing

• The end-October National People’s Congress (NPC) meeting is expected to weigh in. And so, we wait.

PBOC is expected to set the USD/CNY reference rate at 7.0722 – Reuters estimate

• PBOC CNY reference rate setting for the trading session ahead.

Goldman Sachs has boosted its China GDP forecast to just below the government target

• GS project 4.9% in 2024

Chinese equites saw the biggest inflow on record

• Info via Barclays

ICYMI: China to crack down on illegal & irregular activities in the futures market

• China Securities Regulatory Commission (CSRC)

NSFW alert: “China’s deflationary pressures mount as investors hope for more stimulus”

• NSFW language: "Hope"

China September CPI rate fell below August and below expectations. PPI slumped further.

• China inflation data - deep PPI deflation and slowing CPI inflation

Four of China's biggest state-owned banks confirm mortgage rate cuts, beginning October 25

• Rates will be cut to as low as 30bp beneath the current loan prime rate

China will follow up Saturday's stimulus briefing with another on Monday

• As long as you go into these with tempered expectations you should be OK

Reminder - Hong Kong marekts are closed for a holiday today

• Stock Connect channels are closed