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We had a news conference from China today with representatives of the Ministry of Finance, the securities regulator (China Securities Regulatory Commission, CSRC) and the People’s Bank of China. The news was about China’s move to have state-owned insurers raise their investments in A-shares, and listed companies to conduct more share buybacks, amongst others. Summaries here (also in the points above but this’ll save you scanning the headlines):
China to boost long-term funds for equity marketsChina to channel "hundreds of billions of yuan" annually from insurers into equities
Chinese equities opened strongly higher but as I post have shown retracement.
From Japan was welcome export news in December trade data:
Japan’s exports rose for a third monthJapan’s exports increased more than expectedThe trade balance showed a surplus for the first time in six months
In other news, New Zealand is to loosen foreign investment rules.
Major FX was relatively subdued, mostly showing little net change.
Bitcoin and gold were heavy.
This article was written by Eamonn Sheridan at www.forexlive.com.
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