A weaker CNY, and in Open Market operations:

  • To inject 40 bn yuan through 7-day reverse repos

80bn yuan in OMOs are maturing today, thus a 40bn net drain (this is the first net drain in money market liquidity for 2 weeks)

Earlier re China:

  • MSCI will include China A shares in its EM index
  • China - MSCI expects initial inflows around USD17bn to 18bn