{"id":28513,"date":"2018-10-08T12:15:13","date_gmt":"2018-10-08T06:45:13","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=28513"},"modified":"2018-10-08T12:15:13","modified_gmt":"2018-10-08T06:45:13","slug":"monday-8th-october-chinese-markets-lower-by-3-as-central-bank-cuts-liquidity-requirement","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-8th-october-chinese-markets-lower-by-3-as-central-bank-cuts-liquidity-requirement\/","title":{"rendered":"Monday 8th October: Chinese markets lower by 3% as Central Bank cuts liquidity requirement"},"content":{"rendered":"<h4>\n\t<span style=\"font-size:14px;\"><strong>Global Markets<\/strong>:<\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian Stock Markets : Shanghai Composite down 3.38%, Hang Seng down 0.92%, ASX down 1.38%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1199.90 (-0.47%), Silver at $14.50 (-1.05%), Brent Oil at $83.47 (-0.82%), WTI Oil at $73.84 (-0.67%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 3.233, UK 10-year yield at 1.731, Germany 10-year yield at 0.568<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>News &amp; Data<\/strong>:<\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Unemployment Rate 3.70% vs 3.80% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Non-Farm Employment Change 134K vs 185K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Average Hourly Earnings m\/m 0.30% vs 0.30% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Trade Balance 0.5B vs -0.5B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Unemployment Rate 5.90% vs 5.90% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Employment Change 63.3K vs 25.0K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China to adopt more proactive fiscal policy: finance minister<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">AUDUSD Ticks Up As China&rsquo;s Service Sector Beats Forecasts In Sep<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China&#39;s Investment In Australia Slumps 40% Amid Diplomatic Spat<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 14px; line-height: inherit; font-family: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><strong style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline;\">CFTC Positioning Data (Week Ending OCT 2nd, 2018):<\/strong><\/span><\/span><\/span><\/span><\/span><\/span>\n<\/p>\n<div style=\"margin: 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; font-family: Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(84, 84, 84);\">\n<ul>\n<li style=\"box-sizing: border-box;\">\n\t\t\tEUR short -7K vs 4K&nbsp;long last week.&nbsp; Position shifts to short from long. Change of 11K\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\tGBP short 59K vs 67K short last week. Shorts trimmed by 8K\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\tJPY short -114K vs 85K short last week. Shorts increased 29K\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\tCHF short 13K vs 16K short last week. Shorts trimmed 3K\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\tCAD short 19k vs 20k short&nbsp;last week. Shorts trimmed by 1K\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\tAUD short 72k vs 72k short&nbsp;last week. Unchanged\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\tNZD short 31K vs 32K short last week. Shorts trimmed by 1K\n\t\t<\/li>\n<\/ul>\n<\/div>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Markets Updat<\/strong>e:<\/span><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asian stock markets are mostly lower on Monday following the weak cues from Wall Street Friday after strong U.S. jobs data for September added to worries about rising interest rates. Japan&rsquo;s Nikkei 225 is closed for a holiday. The Chinese market, which reopened after a week-long holiday, fell more than 3 percent after the country&#39;s central bank cut the reserve requirements for banks in order to lower financing costs and spur growth amid a trade war with the U.S. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">While the U.S. Labor Department report showed weaker than expected job growth in September, the jump in employment in August was upwardly revised and the unemployment rate fell to its lowest level since 1969. The strong report keeps the Federal Reserve firmly on track to continue raising rates once a quarter, with the next hike likely to come in December.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">China markets fell on Monday after the central bank cut the reserve requirement for banks over the weekend. The People&rsquo;s Bank of China announced on Sunday that it lowered the required reserve ratio (RRR) for some lenders by 1%, although its impact on local equities seemed to be limited. The Shanghai composite fell 3.4 percent while the Shenzhen composite declined by around 3.2 percent on the first trading day since the Golden Week holidays ended. Hong Kong&#39;s Hang Seng index slipped by 0.9 percent in the afternoon.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Meanwhile, South Korea&rsquo;s KOSPI slipped 0.2% as U.S. President said he hopes to see his North Korean counterpart Kim Jong Un &ldquo;in the near future&rdquo;. His comments came U.S. Secretary of State Michael Pompeo&rsquo;s meeting with North Korean leader Kim Jong Un in Pyongyang over the weekend. Pompeo told South Korean President Moon Jae-in upon his arrival in Seoul that Kim had agreed to meet with Trump &ldquo;as soon as possible,&rdquo; according to a statement from Moon&rsquo;s office.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">In currency markets, the dollar was 0.1 percent stronger against the yen at 113.83, while the euro was 0.1 percent weaker against the dollar at $1.1512. The dollar index, which tracks the greenback against a basket of six major rivals, was up 0.09 percent at 95.707. Oil prices fell more than 1 percent after the U.S. said it may grant waivers to sanctions against Iran&#39;s oil exports next month, and as Saudi Arabia was said to be replacing any potential shortfall from Iran.<\/span>\n<\/p>\n<p>\n\t<strong style=\"font-size: 14px;\">Upcoming Event<\/strong><span style=\"font-size: 14px;\">s:<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Tuesday, October 9, 2018&nbsp;&nbsp;<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 AM GMT &#8211; (AUD) NAB Business Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:35 PM GMT &#8211; (GBP) MPC Member Broadbent Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:00 PM GMT &#8211; (CAD) Gov Council Member Wilkins Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Wednesday, October 10, 2018&nbsp;&nbsp;<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">02:10 AM GMT &#8211; (USD) FOMC Member Williams Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) GDP m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Manufacturing Production m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (GBP) MPC Member Haldane Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) PPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core PPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (USD) Treasury Currency Report<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:00 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:30 PM GMT &#8211; (AUD) RBA Assist Gov Ellis Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Thursday, October 11, 2018&nbsp;&nbsp;<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) BOE Credit Conditions Survey<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:45 AM GMT &#8211; (GBP) MPC Member Vlieghe Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (EUR) ECB Monetary Policy Meeting Accounts<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:30 PM GMT &#8211; (NZD) Business NZ Manufacturing Index\\<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Friday, October 12, 2018&nbsp;&nbsp;<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 AM GMT &#8211; (AUD) RBA Financial Stability Review<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (CNY) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) Prelim UoM Consumer Sentiment<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">05:30 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Shanghai Composite down 3.38%, Hang Seng down 0.92%, ASX down 1.38% Commodities : Gold at $1199.90 (-0.47%), Silver at $14.50 (-1.05%), Brent Oil at $83.47 (-0.82%), WTI Oil at $73.84 (-0.67%) Rates : US 10-year yield at 3.233, UK 10-year yield at 1.731, Germany 10-year yield at 0.568 News &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-8th-october-chinese-markets-lower-by-3-as-central-bank-cuts-liquidity-requirement\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 8th October: Chinese markets lower by 3% as Central Bank cuts liquidity requirement<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":28514,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/28513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=28513"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/28513\/revisions"}],"predecessor-version":[{"id":28515,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/28513\/revisions\/28515"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/28514"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=28513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=28513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=28513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}