CHINA: House Price Decline a Not So Gentle Reminder ahead of 4th Plenum
Oct-20 01:43
China's New and Used Home prices declines continued in September, picking up pace from the month prior.
New home prices declined -0.41% (from -0.30% in August) and have declined month on month since May 2023. New home prices -2.66% YoY vs -2.95% in Aug.
September saw Shanghai and Beijing prices up +0.30% and +0.20% respectively with falls in all all other reported markets.
The cumulative month on month decline is nearing 10% since May yet with estimations of 40-50 million unsold properties, there could be more declines to follow.
Used home prices fell -0.64% (from -0.58% in August). The last monthly increase in Used Home prices was April 2023 with the cumulative monthly decline now over 16%. Used home prices -5.24% YoY vs -5.51% in Aug.
CHINA: Central Bank Withdraws CNY64.8bn via OMO
Oct-20 01:29
The PBOC issued CNY189bn of 7-day reverse repo at 1.4% during this morning's operations.
Today's maturities CNY253.8bn.
Net liquidity withdrawal CNY64.8bn.
The PBOC monitors and maintains liquidity in the interbank system through the issuance of reverse repo.
The CFETS Pledged Repo Deposit Institutions 7 Day Weighted is at 1.40%, from prior close of 1.40%.
The China overnight interbank repo rate is at 1.30%, from the prior close of 1.35%.
The China 7-day interbank repo rate is at 1.41%, from the prior close of 1.40%.
MNI: CHINA PBOC CONDUCTS CNY189 BLN VIA 7-DAY REVERSE REPO FRI
Oct-20 01:29
CHINA PBOC CONDUCTS CNY189 BLN VIA 7-DAY REVERSE REPO FRI