Greater China Macro Daily(Beta Mode)
PBOC, HKMA Expand Yuan Trading Channels
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Shanghai Composite | 3,970.88 | -0.49% |
| CSI 300 | 4,755.53 | -0.77% |
| Hang Seng | 23,496.89 | -0.51% |
| TAIEX | 45,479.11 | -2.31% |
| USD/CNY | 6.80 | +0.02% |
| USD/HKD | 7.84 | -0.04% |
| Copper | 6.12 | -0.87% |
| Brent Crude | 79.25 | +6.86% |
| Gold | 4,086.60 | -1.42% |
| Bitcoin | 62,167.14 | -1.79% |
| China 2Y Govt Yield | - | - |
| China 10Y Govt Yield | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
China Imports Value | Type: macro_line | Imports YoY %: 25.05 (2026-04-01) | Range: -21.28–29.91 | Trend(5pt): 29.91,-1.354,1.57,7.315,25.05
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Inflation Rate Year-over-Year | 1.20 | 1.10 | 17:30 |
| Inflation Rate Month-over-Month | -0.10 | -0.20 | 17:30 |
| Producer Price Index Year-over-Year | 3.90 | 4.10 | 17:30 |
- PBOC, HKMA and SFC announced joint measures to develop Hong Kong trading platforms and expand offshore yuan investment channels.
- Mainland China equity benchmarks fell modestly while Taiwan’s TAIEX dropped sharply amid semiconductor profit-taking.
- China CPI and PPI data due today as investors monitor deflation risks and potential PBoC liquidity support.
Yesterday's Recap
Mainland China equities closed lower, with the Shanghai Composite declining 0.49% to 3,970.88 and CSI 300 falling 0.77% to 4,755.53. Hong Kong’s Hang Seng Index slipped 0.51% to 23,496.89. Taiwan’s TAIEX posted the steepest loss, down 2.31% to 45,479.11, led by semiconductor names.
USD/CNY edged 0.02% higher to 6.80 while USD/HKD eased 0.04% to 7.84. PBOC, HKMA and SFC released a joint statement welcoming the development of an offshore yuan trading platform in Hong Kong to deepen cross-border use. Offshore yuan showed mixed moves ahead of today’s inflation prints, with the fixing set at 6.8054.
Copper fell 0.87% to 6.12 while Brent crude jumped 6.86% to 79.25 on supply concerns. Gold declined 1.42% to 4,086.60 and Bitcoin eased 1.79% to 62,167.14. China passenger-car sales contracted again in June as domestic demand stayed weak despite export gains.
Property sentiment showed modest improvement after earlier white-list financing signals.
The Day Ahead
China will release June CPI and PPI figures at 17:30 ET, with consensus pointing to a 1.1% y/y CPI print and 4.1% PPI rise. Markets will watch for signs of persistent deflationary pressure that could prompt further PBoC easing. No major data releases are scheduled for Hong Kong or Taiwan.
HKMA aggregate balance and any liquidity operations will be monitored for peg stability signals. Investors also await any follow-up comments from PBoC on the new Hong Kong trading platform initiative. The measures include higher bond scheme quotas and exploration of a 7-day offshore RMB liquidity tender facility.
Other Economic Notes
China’s June passenger-car sales contracted again, with domestic demand remaining weak despite robust export growth. Property sentiment showed modest improvement following earlier signals on white-list developer financing. Copper prices fell 0.87% to 6.12, reflecting tempered growth expectations.
Brent crude surged 6.86% to 79.25 on global supply concerns, while gold declined 1.42% to 4,086.60. No significant cross-strait trade or investment updates emerged overnight. Hong Kong launched a central clearing system for gold and revived gold futures trading to become a regional reserve hub.
