China Cuts RRR, Mainland Media Highlights Reforms

Key News

Asian equities were mostly higher overnight following mixed performance on Wall Street yesterday.

China cut the reserve requirement ratio (RRR) by 0.25% overnight. This comes ahead of the release, expected tonight, of retail sales, industrial production, and property investment. The cut is welcome as policymakers continue to pursue easing, albeit conservatively. But, it may be an indication that tonight’s release will be somewhat disappointing.