Onshore yuan reference rate, the People's Bank of China permits trading in a plus or minus 2% band from here

And, in Open Market operations ... PBOC to

  • inject 30 bn yuan through 7 day reverse repos
  • inject 10 bn yuan through 14 day reverse repos
  • inject 10 bn yuan through 63 day reverse repos

After accounting for maturing RRs it's a net 20bn yuan injection today.

For the week, net 150bn yuan injection total (net injection 810 bn yuan the previous week)

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Stock markets open in China at the bottom of the hour ... I posted this earlier:

Stocks were down yesterday, big time ... Fear is up ...

Stock futures in China (not the physical, that's what opens at the bottom of the hour) are a touch higher from yesterday.