INSUBCONTINENT EXCLUSIVE:
after improving data prompted traders to pare back their bets for additional stimulus
The Shanghai Composite Index rallied the next day after the central bank injected cash into the financial system, alleviating concerns over
Then came speculation officials had prepared a sweeping package to boost consumption, triggering a rally in carmakers and firms that sell
underwhelmed equity investors, who remain hooked on the prospect of further supportive measures
The first-quarter reporting season, which in China really shifts into gear in the coming weeks, may provide further clues on whether
160 billion yuan ($24 billion) of seven-day money
Tax dues are increasing demand for liquidity, with April and May peak payment season.
That briefly sent the overnight repurchase rate above
3 percent for the first time since 2015, though other longer-term rates remain relatively subdued.
The yuan jumped to the highest level in
almost ten months against a basket of global peers on Thursday, after a stronger fixing from the central bank signaled Beijing is
comfortable with the gains.
