China Stock Market

HSBC on recent China policy support, reason to tentatively buy mainland & Hong Kong stocks

• CSI been higher since February

Chinese companies buy back shares, lift dividends - driving rally

• Record cash dividends

PBOC sets USD/ CNY mid-point today at 7.1111 (vs. estimate at 7.2663)

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

PBOC is expected to set the USD/CNY reference rate at 7.2623 – Reuters estimate

• The rate will be around 7.11, the PBOC is battling to hold the yuan against the surging USD

More from IMF on China: Fiscal policy needs to reorient further to domestic consumption

IMF Deputy Managing Director sees scope for more policy to address China property sector

• Speaking in Beijing

The IMF has upgraded China's economic growth target to 5%, from 4.6%

• International Monetary Fund (IMF) citing a strong Q1

PBOC sets USD/ CNY central rate at 7.1106 (vs. estimate at 7.2528)

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

PBOC is expected to set the USD/CNY reference rate at 7.2528 – Reuters estimate

• The rate will be set around 7.11

China's Shanghai has announced property sector support measures

PBOC sets USD/ CNY reference rate for today at 7.1101 (vs. estimate at 7.2403)

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

PBOC is expected to set the USD/CNY reference rate at 7.2402 – Reuters estimate

• The setting will be around 7.10

China launched a US$47bn state-backed fund to boost the country's semiconductor industry.

• National integrated circuit industry investment fund

China Industrial Profits April 2024 +4.0% y/y (prior +4.3%)

• China Industrial Profits, via National Bureau of Statistics (NBS) data.

PBOC sets USD/ CNY reference rate for today at 7.1091

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