PBOC conducts CNY 5 billion of CBS operation Friday
|According to a CAN editor, China's central bank, the People’s Bank of China (PBOC) said it will start conducting 5-billion-yuan worth of central bank bills swap (CBS) this Friday.
This is the second CBS operation to improve the liquidity of perpetual bonds issued by commercial banks, he added.
Meanwhile, the PBOC kept a neutral position in Open Market Operations (OMO) while skipped reverse repos today.
Market reaction
The Asian equities are tracking the Wall Street meltdown overnight, with Chinese stocks opening weaker around 2% and now extending the early losses, as risk-off remains at full steam amid coronavirus risks led global growth concern.
USD/JPY meanders near a three-week low of 109.33 while oil prices remain heavy around mid-46s.
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