Steen Jakobsen
The Bank of Japan has abandoned quantitative easing and the European Central Bank may taper its bond-buying programme, so what is the role of central banks in 2017, asks Saxo Bank’s chief economist Steen Jakobsen.
Squawk / 30 June 2016 at 9:20 GMT
Saxo Capital Markets China
China shares closed almost flat on Thursday. Shanghai Composite Index dipped 0.07% to 2929.61, and the Growth Enterprise Market Index edged 0.81% higher to 2227.79. On Friday, China will release June official Manufacturing PMI and Caixin Manufacturing PMI, 50.0 and 49.2 expected respectively.
For the first half of 2016, Shanghai Composite Index decreased 17.22% and the Growth Enterprise Market Index dropped 17.92%. Recently, daily average trading volume of China A shares was around 40 billion shares, about 40% of the average trading volume in the 4th quarter of 2015. Many investors still stand by side-lines.
30 June
Tepord Tepord
The report promptly sent the offshore yuan tumbling, sliding much as 0.72% to 6.7021 per dollar, the lowest since January 11, however it promptly recovered losses following significant PBOC intervention in the open market.
30 June
Tepord Tepord
The yuan has dropped to the new lows following Britain's vote to leave the European Union and so far the central bank has stood aside from intervening, suggesting it is happy with the currency's depreciation.
30 June
Tepord Tepord
"We are concerned at how quickly the yuan is falling and in turn how the won seems to be tracking its movements," said a finance ministry official in South Korea, a major exporter that competes with China in textiles, electronics and petrochemicals among other sectors.


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