Greater China Macro Daily(Beta Mode)
PBoC Adds Liquidity as Equities Weaken
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Shanghai Composite | 3,926.96 | -0.50% |
| CSI 300 | 4,663.95 | -0.57% |
| Hang Seng | 25,440.17 | -0.83% |
| TAIEX | 45,518.07 | +0.88% |
| USD/CNY | 6.74 | -0.04% |
| USD/HKD | 7.85 | +0.00% |
| Copper | 6.59 | -0.11% |
| Brent Crude | 86.96 | -2.27% |
| Gold | 4,407.10 | -0.04% |
| Bitcoin | 63,485.84 | +0.13% |
| China 2Y Govt Yield | - | - |
| China 10Y Govt Yield | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Shanghai Composite Index | Type: market_hloc | Index: 3947 (2026-08-12) | Range: 3764–4243 | Trend(5pt): 4243,4058,4074,3864,3947
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Current Account Preliminary | 184,300m | - | 01:00 |
| Friday (2026-08-14) | |||
| Current Account Preliminary | 184,300m | - | 01:00 |
- Shanghai Composite fell 0.50% and CSI 300 declined 0.57% while Hang Seng dropped 0.83%; TAIEX rose 0.88%.
- PBoC injected CNY18 billion via 7-day reverse repos at 1.40% to maintain liquidity.
- USD/CNY eased 0.04% to 6.74 as USD/HKD held steady at 7.85.
Yesterday's Recap
Mainland China equity benchmarks closed lower on August 12 with the Shanghai Composite at 3,926.96 and CSI 300 at 4,663.95. Hong Kong’s Hang Seng Index declined to 25,440.17 amid thin trading. Taiwan’s TAIEX advanced to 45,518.07, supported by semiconductor names.
The PBoC conducted CNY18 billion in 7-day reverse repos at 1.40%, keeping liquidity ample ahead of the weekend. Tributes continued for former premier Zhu Rongji, whose state-firm reforms and Pudong development shaped China’s growth model. No major data releases occurred in Greater China.
Copper slipped 0.11% to 6.59, reflecting subdued industrial demand signals. Brent crude fell 2.27% to 86.96 while gold held near 4,407.10. Bitcoin edged 0.13% higher to 63,485.84.
Hong Kong public rental housing wait times edged up to 4.8 years and logistics REITs such as SF Reit reported occupancy stability despite a 7.3% drop in distributable income.
The Day Ahead
China’s preliminary current account balance for Q2 is scheduled for release at 01:00 ET on August 14. The print follows the prior CNY184.3 billion surplus and will inform external demand trends. Market participants will also monitor PBoC open-market operations for any shift in liquidity stance.
Hong Kong releases no major indicators, while Taiwan focuses on export order data later in the week. Regional equity futures point to a cautious open after mixed closes. Northern Metropolis land parcels for a logistics hub drew expressions of interest and the revamped Huanggang border crossing hosted its first large-scale drill.
Heat-stress warning systems for outdoor workers remained under review after July rainfall exceeded norms by 23%.
Other Economic Notes
China’s May CPI at 1.20% YoY continues to signal contained price pressures, supporting expectations for steady policy. Property-sector deleveraging remains gradual, with logistics REITs such as SF Reit reporting occupancy stability despite lower distributable income. Cross-strait trade flows stay resilient, though US accusations of transshipment schemes could raise compliance costs for exporters.
Panda-bond issuance momentum, including Indonesia’s debut, underscores Beijing’s push to internationalize the yuan. <i>↓ p.2</i>
