Scrapping limits

  • China removed limits for overseas investment in the country’s stocks and bonds, the latest push by authorities to attract more foreign capital.
  • With almost two-thirds of the current $300 billion allowance on non-Chinese asset purchases untapped, the move may be more about signaling than meeting current demand.
  • Data released overnight showed the country’s economy remains under pressure, with factory deflation deepening while consumer prices quicken more than expected. In perhaps another sign of how the trade war is hurting China, a state-run paper took aim at Trump adviser Peter Navarro for his hawkish stance on the issue.

(Source: Bloomberg)