- The People's Bank of China has injected 13B yuan ($2.13B) into the markets via open market operations, resuming such action for the first time in two weeks.
- Although the amount was small, especially compared with the 102.5B yuan that has drained from the system, the move eased fears that the PBOC was planning to dramatically tighten monetary policy and signaled that the bank doesn't want a repeat of the cash crunch in the summer, when repo rates climbed to extreme levels.
- However, the Shanghai Composite is -0.55%.
- ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
Chinese central banks injects cash into money markets
Oct 29 2013, 02:14 ET