Brent Steady After Strong Chinese Data
Brent crude oil (BNO, quote) traded near $108 on Thursday morning after unexpectedly strong Chinese data suggested rising global demand.
FXI
HSBC Flash China Manufacturing Purchasing Managers’ Hits 18 Month High
Overnight the HSBC Flash China Manufacturing Purchasing Managers’ Index hits 18 month high. The survey indicates high demand for manufacturing domestically as well as internationally.
PBOC to Use New Tools for Liquidity Operations
The central bank will use unconventional monetary tools such as re-lending and pledged supplementary lending to maintain relatively loose liquidity, rather than turning to conventional tools including lowering interest rates or the reserve requirement ratio, said Zhu Haibin, chief China economist at JPMorgan Chase & Co (JPM, quote).
Shanghai meat supplier for McDonald, KFC suspended
Earlier on Sunday the administration had ordered that all meat products supplied by Shanghai Husi Food Co., Ltd should be taken off shelf for safety concerns.
China Premier GDP growth of 7.5% in range
Chinese Premier Li Keqiang has reiterated “quality” as the mainspring of China’s growth, saying that quality growth, whether slightly higher or lower than 7.5 percent, will be acceptable.
Pre-Market Movers
This morning our scans found the following names moving in the pre-market with significant volume this morning.
FTZ lifts barriers to overseas investment
More than 50 rules and restrictions governing foreign investment in Shanghai’s pilot free trade zone have been lifted in a bid to support its continued growth and development, a senior official said yesterday.
China’s June PMI at six-month high
Growth in China’s (FXI, quote) manufacturing sector accelerated to a six-month high in June, registering a strong end to the second quarter and an encouraging sign that the economy is further stabilizing.
China’s Twitter abuzz with Microsoft’s chat robot
Microsoft’s chat robot Xiaobing has been officially brought back to the public on the platform of Sina Weibo, the China’s twitter (TWTR, quote) on Wednesday.
Apple supplier to make bigger iPhones July in China
Apple Inc’s suppliers will begin producing larger versions of the iPhone in China (FXI, quote) next month, Bloomberg reported citing sources.