PBOC Launches $71 Billion Liquidity Tool for Stock Investors

Bloomberg10-10

Large investors can use proceeds from facility to buy sharesMeasure first announced last month as part of stimulus bonanzaChina’s central bank has set up a swap facility to provide liquidity to ...

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Toby_Chua
10-10
Toby_Chua
They must continue with concrete detail plus new stimulus to keep the stock market flame intact which is the fastest way to boost up confidence and increase internal consumption to prop up the GDP

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The size of the tool is 500 billion yuan ($70.6 billion) and can be expanded in the future, the monetary authority said.</p><p>PBOC Governor Pan Gongsheng unveiled the tool as part of a stimulus bonanza last month that signaled the government’s intent to draw a line under the slowing economy. The moves fueled a world-beating rally that saw shares rise as much as 30%.</p><p style=\"text-align: start;\">The funds obtained through the facility can only be used to invest in the stock market, Pan said at the time. The collaterals could be bonds, stock ETFs, CSI 300 constituent shares and other assets, the PBOC said Thursday.</p><p style=\"text-align: start;\">The latest announcement comes as the stock rally cools on the lack of immediate fiscal stimulus following a weeklong national holiday. Investors are now awaiting a press briefing by Finance Minister Lan Fo’an on Saturday to watch for clues of any steps to boost government borrowing and spending to shore up growth.</p><p style=\"text-align: start;\">Serena Zhou, senior China economist at Mizuho Securities Asia Ltd., said the policy is expected to support the market, although she wouldn’t link the timing to the stock market’s performance.</p><p style=\"text-align: start;\">Authorities stepped up support for the stock market and the economy as growth momentum weakened in recent months, putting the target of around 5% economic expansion this year under threat.</p><p style=\"text-align: start;\">Consumer spending remains sluggish, with tourists shelling out less money during the long holiday in October than before the pandemic.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PBOC Launches $71 Billion Liquidity Tool for Stock Investors</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPBOC Launches $71 Billion Liquidity Tool for Stock Investors\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-10 09:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-10-10/pboc-launches-71-billion-liquidity-tool-for-stock-investors?srnd=homepage-americas><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Large investors can use proceeds from facility to buy sharesMeasure first announced last month as part of stimulus bonanzaChina’s central bank has set up a swap facility to provide liquidity to ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-10-10/pboc-launches-71-billion-liquidity-tool-for-stock-investors?srnd=homepage-americas\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","000001.SH":"上证指数"},"source_url":"https://www.bloomberg.com/news/articles/2024-10-10/pboc-launches-71-billion-liquidity-tool-for-stock-investors?srnd=homepage-americas","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147228091","content_text":"Large investors can use proceeds from facility to buy sharesMeasure first announced last month as part of stimulus bonanzaChina’s central bank has set up a swap facility to provide liquidity to institutional investors to buy stocks, part of a broad stimulus package announced earlier that ignited a rally in stocks.The People’s Bank of China will accept applications from eligible securities firms, funds and insurers starting Thursday to obtain highly liquid assets such as government bonds and central bank bills if they provide certain collaterals, according to the bank’s statement. The size of the tool is 500 billion yuan ($70.6 billion) and can be expanded in the future, the monetary authority said.PBOC Governor Pan Gongsheng unveiled the tool as part of a stimulus bonanza last month that signaled the government’s intent to draw a line under the slowing economy. The moves fueled a world-beating rally that saw shares rise as much as 30%.The funds obtained through the facility can only be used to invest in the stock market, Pan said at the time. The collaterals could be bonds, stock ETFs, CSI 300 constituent shares and other assets, the PBOC said Thursday.The latest announcement comes as the stock rally cools on the lack of immediate fiscal stimulus following a weeklong national holiday. Investors are now awaiting a press briefing by Finance Minister Lan Fo’an on Saturday to watch for clues of any steps to boost government borrowing and spending to shore up growth.Serena Zhou, senior China economist at Mizuho Securities Asia Ltd., said the policy is expected to support the market, although she wouldn’t link the timing to the stock market’s performance.Authorities stepped up support for the stock market and the economy as growth momentum weakened in recent months, putting the target of around 5% economic expansion this year under threat.Consumer spending remains sluggish, with tourists shelling out less money during the long holiday in October than before the pandemic.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":12,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1147228091"}