- Chinese stocks gave back some gains from yesterday's post-holiday rally, with more conservative investors heading into defensive sectors (including consumer staples) ahead of the 19th Communist Party congress.
- Shanghai was down 0.3% to 3365.85, while Shenzhen was off 0.1% to 547.93. Hang Seng was up 0.2%.
- China's state-backed funds actually intervened to trim stock gains as it headed to a 21-month high Monday, Bloomberg reports. Sources told the service that the funds sold large-caps (including banks and Unicom), a reversal of their buying after China saw a sovereign credit downgrade from S&P.
- The People's Bank of China poured 40B yuan (about $6.06B) into the system by using 7-day reverse repurchase agreements, and the yuan gained after comments on stronger fixing from central bank governor Zhou Xiaochuan: Onshore, the yuan was up as much as 0.53%, and offshore up as much as 0.56%.
- The central bank strengthened the yuan reference rate for the first time in seven trading days, by 0.33%.
- ETFs: FXI, ASHR, YINN, CAF, EWH, KWEB, YANG, CYB, GXC, FXP, PGJ, MCHI, HAO, CQQQ, TAO, CNY, CHIX, PEK, CHIQ, CHN, TDF, KBA, QQQC, ASHS, XPP, CNXT, CHAU, YXI, CN, FCA, YAO, CHAD, GCH, CXSE, JFC, FXCH, CHII, CHIE, ECNS, AFTY, KFYP, CHIM, EWHS, FCHI, CWEB, FHK, ASHX, CNYA, HAHA, CNHX, XINA, OBOR
- Now read: Daily Insider Ratings Round Up 10/5/17: YUMA, WKHS, INFI, MSF, GEC
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