China stocks climbed on PBOC inject more liquidity before an annual communist conference starts this weekend. SHA climbed about 0.21% with money flowed into Construction, Furniture and Banking sectors the most. Sichuan Guodong Construction Co., a construction board producer, rallied to limit-up as the majority shares had been transferred to another real estate developer and investors believe this restructure could boost its value. DXY spiked above the 98 level as overnight US data, such as Philly Fed Manufacturing PMI showed that the economy is strong enough for a rate hike. CNYUSD fell to a six year new low of 6.76 as PBOC could bias to the easy monetary policy for the next several years yet it showed little concern on the weakness of RMB. In commodity market, coal, glass and tin led the rally as NDRC failed to convince investors that the coal price could be tamed with planed production recovery. Weaker yuan also supports the price of raw materials. As we expected that SHA rise toward 3100 with expectation of reform plan release and more clearance on the gov's economic policy. Yet investors should keep in mind that risky assets still facing quite many risks in Q4 and the recent rally should be taken as a good opportunity to reduce risk exposure.
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