The People's Bank of China (PBOC) injected a net 31.7 billion yuan into the open market on Monday through 7-day reverse repos, totaling 166.7 billion yuan at an unchanged interest rate of 1.50%. This move offset 135 billion yuan in maturing operations to maintain liquidity. Additionally, the PBOC conducted 800 billion yuan in outright reverse repos in March with 3-month and 6-month terms. The PBOC set the USD/CNY reference rate at 7.1782, significantly stronger than market expectations of 7.2593. This adjustment, which included a 30-pip cut to the Central Parity Rate, suggests measures to support the yuan. Turnover on the Shanghai and Shenzhen Stock Exchanges exceeded 1 trillion yuan for the 49th consecutive trading day. In Hong Kong, the Hang Seng Tech Index fell 2% to 5,396.14 on Monday, marking a correction after declining over 10% in the past two weeks. The drop, which saw NIO shares fall over 4%, is attributed to profit-taking, tariff concerns, and investor caution amid trade war uncertainties.
🇨🇳PBOC: CONDUCTED 800 BILLION YUAN OUTRIGHT REVERSE REPOS IN MARCH WITH 3-MONTH AND 6-MONTH TERMS. NO GOVERNMENT BOND TRADING OPERATIONS IN OPEN MARKET DURING MARCH. #CHINA $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN $YANG @MKTNews24 https://t.co/Am6hKWauNA https://t.co/6P8OHruKPk
🇭🇰📉 HONG KONG'S HANG SENG INDEX CLOSED DOWN 307.02 POINTS, OR 1.31%, AT 23119.58 HANG SENG CHINA ENTERPRISES INDEX CLOSED DOWN 89.96 POINTS, OR 1.05%, AT 8516.55 HSCCI CLOSED DOWN 40.13 POINTS, OR 1.04%, AT 3810.81 #CHINA $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN https://t.co/Lq9qtlK3Wn https://t.co/OVEX2VBZPE
🇨🇳CHINA TO ISSUE NEW GUIDELINES FOR DIGITAL INDUSTRY'S HIGH-QUALITY DEVELOPMENT. #CHINA $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN $YANG @MKTNews24 https://t.co/yUYkEUP5um https://t.co/sc7zSnx1LZ