PBOC's Ramped-up Efforts to Defend Yuan May Have Limited Impact -- Market Talk

Dow Jones

Jan 13, 2025

0546 GMT - The PBOC's ramped-up efforts to defend the yuan may have limited impact, Mizuho Securities Asia's Ken Cheung says in an email, noting the central bank's latest FX-supportive measures. On Monday, the PBOC made it easier for Chinese companies to raise money from overseas by raising the macroprudential parameter for cross-border funding. However, the PBOC's previous increase in macro-prudential parameter in July 2023 had limited impact on supporting the yuan, the director of FX strategy says. Given lower funding costs in onshore China, Chinese companies and institutions are unlikely to raise capital via cross-border financing, Cheung adds. USD/CNY is little changed at 7.3317. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 13, 2025 00:46 ET (05:46 GMT)

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On Monday, the PBOC made it easier for Chinese companies to raise money from overseas by raising the macroprudential parameter for cross-border funding. However, the PBOC's previous increase in macro-prudential parameter in July 2023 had limited impact on supporting the yuan, the director of FX strategy says. Given lower funding costs in onshore China, Chinese companies and institutions are unlikely to raise capital via cross-border financing, Cheung adds. USD/CNY is little changed at 7.3317. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 13, 2025 00:46 ET (05:46 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PBOC's Ramped-up Efforts to Defend Yuan May Have Limited Impact -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPBOC's Ramped-up Efforts to Defend Yuan May Have Limited Impact -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-01-13 13:46</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0546 GMT - The PBOC's ramped-up efforts to defend the yuan may have limited impact, Mizuho Securities Asia's Ken Cheung says in an email, noting the central bank's latest FX-supportive measures. On Monday, the PBOC made it easier for Chinese companies to raise money from overseas by raising the macroprudential parameter for cross-border funding. However, the PBOC's previous increase in macro-prudential parameter in July 2023 had limited impact on supporting the yuan, the director of FX strategy says. Given lower funding costs in onshore China, Chinese companies and institutions are unlikely to raise capital via cross-border financing, Cheung adds. USD/CNY is little changed at 7.3317. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 13, 2025 00:46 ET (05:46 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PBOC","symbol_name":"PGIM S&P 500 Buffer 20 ETF - October","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2503347323","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2503347323","pubTimestamp":1736747160,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0546 GMT - The PBOC's ramped-up efforts to defend the yuan may have limited impact, Mizuho Securities Asia's Ken Cheung says in an email, noting the central bank's latest FX-supportive measures. 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On Monday, the PBOC made it easier for Chinese companies to raise money from overseas by raising the macroprudential parameter for cross-border funding. However, the PBOC's previous increase in macro-prudential parameter in July 2023 had limited impact on supporting the yuan, the director of FX strategy says. Given lower funding costs in onshore China, Chinese companies and institutions are unlikely to raise capital via cross-border financing, Cheung adds. USD/CNY is little changed at 7.3317. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 13, 2025 00:46 ET (05:46 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}