Listen: Asian markets update and Xi promises gradual opening of Chinese markets to investment
"Well I should mention that president she has just finished his speech at the Shanghai expo and it wasn't really much of a market moving dress lots of good sounds are about opening up and stimulating imports and also lots of experimentation not and separate from the speech we did get a move from the P. B. O. C. the central bank lowered the cost of loans that it offers to bank so we are referring to the medium term lending rate here so that was dropped and this adds about four hundred billion you on or about fifty seven billion dollars of funding into the financial system through that medium term lending facility so that's one step today but the markets again not responding all that much we have the CSI three hundred trading down about a tenth of one percent similar losses in Hong Kong but we had some very toward gains here late nineteen index at the moment down about a tenth of one percent any officer Chinese currency holding on to strings at seven oh two seventy three in the on shore at seven oh two sixty two so that's even stronger that's generally a pretty solid sign for China Dolly and one oh eight seventy three lot of strength in the Bloomberg dollar spot overnight up three tenths of one percent that may be one reason why equity markets in Asia outside of Tokyo are being held back a little bit let's run through some of the numbers the Nikkei up one point five percent the SX two hundred flat to slightly higher and so the cost is trading up about a tenth of one percent the Taiwan and Singapore markets opened in a trading firm four tenths of percent good for the tires the straits times index of so that's kind of a check of the temperature of markets kind of lukewarm nothing really special but still"