FXStreet (Barcelona) – The TradeTheNews Team shares the Chinese data releases and the equity market performance in the Asian session.
“China central bank PBoC cut interest rates by 25bps over the weekend. Central bank reiterated prudent monetary policy and expressed to create a neutral appropriate monetary and financial environment for economy. PBoC reiterated to be more appropriate on monetary policy, and to use comprehensive monetary tools to fine-tune economy.”
“China also released Feb Manufacturing PMI, slightly better than consensus. Later in the evening, HSBC released China Feb final Manufacturing PMI, revised the final figure much higher to 50.7 from flash reading of 50.1.”
“China think tank State Information Center (SIC) also forecast China Q1 GDP growth at about 7%.”
“Shanghai equity market, despite positive news over the weekend, traded only slightly higher by 0.3% during the morning session. Some security brokers in Shanghai led the gains, including Northeast Securities, Sinolink Securities.”
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