Market comment | The PBoC increase policy measures to shield the Chinese economy

Despite signs of mounting headwinds, equities recovered somehow amid further policy stimulus from China. Elsewhere, U.S. equities and bonds remained close today for President’s Day holiday.

Key points

• Key points:
• Japan’s 4Q GDP data surprised to the downside.
• The PBoC cut the one-year MLF interest rates by 10 basis points to 3.15% and provided medium-term funding of 200 billion yuan.
• Sovereign bond yields remained generally steady.
• Equities rose amid latest gains in Asian shares. China’s CSI300 equity index rebounded 2.25%.

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