A couple of odds and ends about the place collated via Bloomberg, which may add up to a better tone in China stocks
Monday's Politburo meeting highlights:
- Measure to continue expanding domestic demand - in the face of threats over trade, renewed focus on boosting consumption: tax cuts, lower bank reserve ratios. Renewal of tax exemptions for purchases of home appliances and automobiles look to be in the pipeline also.
- Further derestricting FX, stock, debt, credit and property markets: measures for boosting property activity should be an engine of growth.
Note, over the past two days we have seen a weakening of the onshore yuan (USD/CNY fixing each day posted around 0116GMT), which may be a reflection of moves to support trade also after the big surge for the yuan the past weeks.
