|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||12.07 - 12.17|
|52 Week Range||10.10 - 13.83|
|Beta (3Y Monthly)||0.83|
|PE Ratio (TTM)||5.39|
|Forward Dividend & Yield||0.67 (5.96%)|
|1y Target Est||N/A|
The move led by the Bank of France, Bank of England and People’s Bank of China draws the group deeper into a controversial area of policy-making where they advocate funding for alternatives to fossil fuels. The U.S. Federal Reserve and Banco do Brasil were the most prominent institutions not involved in the initiative, reflecting doubt about climate science voiced by Presidents Donald Trump and Jair Bolsonaro.
The overnight repurchase rate rose as much as 11 basis points to 3.0006 percent, the first time it’s reached that level since April 2015. It has jumped 35 basis points in three sessions, and is higher than the seven-day rate, which fell to 2.7905 percent. The People’s Bank of China rolled over about half of the funds coming due through one of longer-term policy tools Wednesday, while offering 160 billion yuan ($23.9 billion) of seven-day money via open market operations.
China’s central bank shifted its tone on the economy, emphasizing that it will control excessive money supply amid signs of a recovery. The People’s Bank of China said it’ll keep good control of the money supply "floodgate" and not "flood" the economy with excessive liquidity, according to a statement released late Monday. China’s “economy has shown healthy development and economic growth is resilient," with improvement in both market expectations and financial support for the economy, according to the statement from the first-quarter meeting of the monetary policy committee, which was held on April 12.
Donald Trump continued to hammer his Federal Reserve chairman over the weekend, even as European Central Bank President Mario Draghi worried aloud about the U.S. president’s Twitter assaults. National leaders from India to Turkey have exerted immense pressure to bend monetary policy more to their liking. Of course, no one pretends that the PBOC isn’t subservient to China’s Communist leaders.
(Bloomberg) -- China’s credit growth exceeded all estimates in March after a slowdown during the Lunar New Year, signaling a further firming of the nascent economic recovery ahead.Aggregate financing was 2.86 trillion yuan ($426 billion) last month, compared with about 700 billion yuan in February, the People’s Bank of China said Friday. The median estimate was 1.85 trillion yuan in a Bloomberg survey.
China’s more upbeat sales abroad are a tentative sign of resilience in the global economy amid further signs of trade tensions, though the data would have been heavily influenced by seasonal and price factors. The continued slump in imports though suggests a bumpy road ahead for the domestic economy as it seeks a rebound from a bruising few quarters. “We still expect the first quarter marks the low point with more stimulus to filter through,” said Patrick Bennett, head of macro strategy for Asia at Canadian Imperial Bank of Commerce in Hong Kong.
A report showing exports rebounded in March provided only a brief boost to Chinese stocks on Friday. The Shanghai Composite Index had its worst week of the year, with analysts saying the government may want to contain the amount of leverage in the equity market. Traders based overseas joined in on the selling, dumping more than 14 billion yuan of mainland stocks in the six trading days through Friday.
In recent years, China’s millennials have resorted to innovative financial products to accumulate wealth. Jack Ma’s Ant Financial Services Group, for instance, offers Yu’e Bao, a money-market fund, to anyone with a dollar to save. As the People’s Bank of China reverses course and re-opens liquidity taps, online money-market accounts are no longer a good option.
China’s consumer prices surged on the back of temporary food supply factors, while factory inflation provided further evidence of a nascent economic recovery. The surge was mostly led by rising vegetable and pork prices, which drove the CPI up by more than half a percentage point, according to the National Bureau of Statistics. Core consumer prices, excluding food and energy, stayed flat at 1.8 percent, and factory inflation halted a dis-inflationary slide, gaining 0.4 percent.
The International Monetary Fund warned of “dangerous” consequences for the U.S. economy if moves such as President Donald Trump’s calls for Federal Reserve interest-rate accommodation lead to monetary policy mistakes. “Undermining central-bank independence would be dangerous,” Tobias Adrian, director of the fund’s monetary and capital-markets department, said when asked about Trump’s recent criticism of the Fed. He spoke as the IMF’s spring meetings were getting under way in the U.S. capital. The central bank in the world’s largest economy "is set up as a very independent institution.
Rating Action: Moody's assigns A1 rating to various senior unsecured notes to be issued by five branches of Bank of China; outlook stable. Global Credit Research- 10 Apr 2019. Hong Kong, April 10, 2019-- ...
China’s on a bullion-buying spree as Asia’s top economy expanded its gold reserves for a fourth straight month, adding to investors’ optimism that central banks from around the world will press on with a drive to build up holdings. The People’s Bank of China raised reserves to 60.62 million ounces in March from 60.26 million a month earlier, according to data on its website on Sunday. China, the world’s top gold producer and consumer, is facing signs of a slowing economy, even as progress is being made in trade negotiations with the U.S. The latest data from the PBOC indicate that the country has resumed adding gold to its reserves at a steady pace, much like the period from mid-2015 to October 2016, when the country boosted holdings almost every month.
(Bloomberg) -- Emerging-market stocks gained every day of last week as the outlook improved for global growth and the U.S. and China made progress in trade talks. The U.S. jobs report gave equities an extra fillip on Friday. Gains in the dollar offset the boost for developing-nation currencies, which eked out a small advance.
Key InsightsThe reading compares with $3.09 trillion from the previous month and the median estimate of $3.09 trillion in a Bloomberg survey of economists“Rising prices of developed markets’ government bonds likely contributed to some positive valuation effect,” although weaker foreign currencies caused some loss to the value, according to Wang Tao, chief China economist at UBS Group AG.
The Federal Reserve and fellow leading central banks are hitting the pause button when it comes to monetary policy. Faced with slowing global growth and inflation, policy makers are taking to the sidelines or even becoming dovish again. The Fed is signaling it won’t hike interest rates for a while if at all and the European Central Bank is lining up fresh stimulus in the form of fresh bank loans.
On Friday, millions of Chinese will celebrate Qingming Festival, the tomb-sweeping holiday, holding memorials for deceased relatives. Part of the tradition involves burning fake money and paper models of goods in the belief that one’s ancestors will get to enjoy the real things in the afterlife.
President Donald Trump’s top economic adviser touted progress in high-level talks with China, but cautioned that a final deal to end the trade war remains elusive as negotiations resumed in Washington. Negotiators are “making good headway,” White House economic adviser Larry Kudlow told reporters Wednesday in Washington. U.S. stocks rebounded following his remarks.
China Vanke Co.’s goal for the next three years would be simply “to survive,” its chairman Yu Liang warned. This was a startling admission from one of the few investment-grade companies in the sector, acknowledging the severe squeeze from Beijing’s deleveraging campaign. Yu’s remark was timely. Shortly afterwards, the average yield for Asia’s dollar junk bonds, which is largely determined by Chinese property developers’ notes, soared. What a difference six months makes. Now real estate companies are thriving.
Signs that China’s economy is stabilizing have kicked off a debate about whether the central bank should keep injecting liquidity into financial markets, with a former senior official warning of the risk of asset bubbles. The People’s Bank of China should decide whether to cut the amount of money lenders must hold as reserves only after seeing more economic data, such as first-quarter gross domestic product due April 17, Sheng Songcheng, a former director of the PBOC’s statistics and analysis department, said in an interview with Economic Information Daily published Tuesday. Economists and traders expect the PBOC to cut reserve requirements at least three more times this year, having used such cuts since early 2018 to manage market liquidity and funnel cash into the slowing economy.
(Bloomberg Markets) -- It was 2007, and China’s economy was expanding at a blistering 14 percent a year. At Nanjing University in eastern China, Chen Yang, a finance major, was a year away from graduation. Most of his classmates were streaming into banks and brokerages to take jobs tied to a stock market that was on fire. But at a campus recruitment presentation, an American fixed-income trader pointed Chen in a different direction: bonds.
China’s first official economic gauge for March signaled a stabilization in the world’s second-largest economy, easing one of the biggest worries for the global outlook. Growth of the world’s second-largest economy will slow further in the first quarter to 6.2 percent from a year earlier and stabilize at that level throughout 2019, according to economists surveyed by Bloomberg.
BEIJING/HONG KONG, March 29 (Reuters) - Bank of China Ltd (BoC) , the country's fourth-largest lender by assets, said on Friday net profit eased 0.3 percent in the fourth quarter of 2018, its first quarterly ...
The PBOC will continue to reduce the amount of money lenders have to put aside as reserves, with the earliest cut taking place next quarter and two others in the second half of this year, according to the median estimate of 39 economists and traders in concurrent Bloomberg surveys. The required-reserve ratio will be lowered by 50 basis points in each three month period, or 150 basis points altogether by the end of the year, the surveys showed. “There is a high probability that monetary policy will refrain from further easing at the short-end as China’s stock and property markets recover,” bringing about a need to defend against asset bubbles, said Ji Tianhe, a strategist at BNP Paribas in Beijing.
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