From the FXWW Chatroom: The yuan’s appreciation makes yuan-denominated assets more attractive, improves liquidity in the domestic markets and increases capital brought by more investment into China’s bond market, China Securities Journal reported citing unidentified market sources. – Yuan can appreciate further on the dollar on FX settlement: journal; ***TAKEAWAY: Markets are bullish on the yuan, benefits China’s bond market.
CHINA PRESS: Housing prices in China’s so-called Tier-3 and Tier-4 cities are still rising too fast, and more clampdown measures against speculation in the property market are needed, the Economic Information Daily said in a commentary. – Mortgage loans rose 26.2% in 2017 y/y, 13.1 percentage points higher than other loans’ growth: daily; – Reducing mortgage approvals may rein in speculation: daily; ***TAKEAWAY: Policy makers will curb lending in property; mortgage interest rates may be kept high.
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