S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
The offshore yuan weakened to around 6.74 per dollar on Thursday, reversing gains from the previous session as a weaker-than-expected daily fixing by the People’s Bank of China weighed on the currency. The central bank set the midpoint rate at 6.7888 per dollar, 418 pips weaker than a Reuters estimate. While seasonal factors as September approaches could support the yuan, the extent of any gains will likely depend on the PBOC’s fixing strategy. The yuan’s decline was partly cushioned by a softer US dollar after inflation data reduced expectations of an imminent Federal Reserve rate hike. Meanwhile, the PBOC reiterated its commitment to rolling out targeted policy support while avoiding broad-based easing in its quarterly monetary policy report. Separately, the PBOC conducted no seven-day reverse repos for a third consecutive day on Thursday, while announcing plans to inject up to CNY 600 billion per day through overnight reverse repos on August 14 and August 17–19.
