Hong Kong's Hang Seng Index slid 2 per cent from its highest level since June 2018, led by a 5 per cent plunge in Tencent Holdings. Futures on Chinese government bonds due in a decade were poised for the biggest decline since August, while the seven-day repurchase rate jumped 29 basis points to 2.72 per cent, the highest level in a year.If they follow through...The People's Bank of China withdrew a net 78 billion yuan (S$16 billion) via open-market operations on Tuesday. PBOC advisor Ma Jun told local media risks of asset bubbles - such as in the stock or property market - will remain if China doesn't shift its focus toward job growth and inflation management instead.
2021-01-27
PBoC Turning Hawkish on Asset Prices
Everyone betting on inflation and emerging market growth lifted by Chinese demand...
Straits Times: China asset-bubble warning halts stock frenzy in Hong Kong
For more see yesterday's post: Here We Go Again: Less Stimulus, China Tightening
Labels:
China,
economy,
inflation,
monetary emissions,
PBOC
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But can't they just change their minds the next day?
ReplyDeleteThey always change their mind, but no central bank has successfully taken preventative action yet.
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