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Press Releases

Casino operator Red Rock expects to raise $569 mln in IPO

April 15- U.S.-based casino operator Red Rock Resorts Inc plans to raise as much as $569 million in an initial public offering. The company expects the offering of 27.1 million class A shares to be priced at $18- $21 per share, it said in a regulatory filing on Friday. Red Rock said it had applied to list its shares on the Nasdaq under the symbol "RRR".

Source: Reuters

What China GDP means for the PBOC

Liquidity-boosting measures such as RRR cuts can help the overall economy, argues Mitul Kotecha, head of Asia FX and rates strategy at Barclays.


UPDATE 1-HK overnight yuan rates go negative as bears exit short positions, RRR bites

SHANGHAI/ HONG KONG, March 31- The overnight offered rate for offshore yuan plunged to -3.725 percent on Thursday, the first time it has quoted in negative territory, with some analysts saying the slide showed investors short on offshore yuan were quitting their positions in a hurry. If true, it would mark a victory for the People's Bank of China in its war against...

Source: Reuters

Asia markets mostly higher, shrugging off weak China data

Major Asian markets traded higher Tuesday, digesting the surprise move by China's central bank to cut banks' reserve requirement ratio (RRR) to free up liquidity, and shrugging off fresh negative economic data from the mainland.


Yuan edges up on firmer midpoint despite RRR cut, weak manufacturing

SHANGHAI, March 1- China's yuan firmed against the dollar on Tuesday even in the wake of more monetary easing and weak manufacturing activity, propped up by stronger guidance from the central bank. The People's Bank of China set the daily midpoint rate at 6.5385 per dollar prior to market open, 0.1 percent firmer than the previous rate 6.5452, reversing the latest...

Source: Reuters

What's behind China's unexpected RRR cut?

Chinese officials tend to implement stabilization measures ahead of key policy meetings, explains Daniel So, strategist at CMB International Securities.


China's RRR cut shows yuan, outflow worries easing

China appears to have prioritized goosing growth over concerns about fund outflows, with the central bank moving Monday to cut banks' reserve requirement ratios (RRR).


How will PBOC's latest RRR cut help?

Fountainhead Partners' Pu Yonghao reckons the PBOC's 0.5 percent RRR cut will help China cope with the liquidity squeeze from large capital outflows.


Official and Caixin factory activity gauges slow again in Feb, underlining need for RRR move

Twin gauges of Chinese factory activity revealed slowing growth in February, underpinning the case for stimulus a day after the PBOC cut the reserve requirement ratio.


China stocks open lower after cut reserve ratio

SHANGHAI, March 1- China stocks opened lower on Tuesday, even after the country's central bank resumed its easing cycle, injecting an estimated $100 billion worth of long-term cash into the economy through a reduction in banks' reserve requirement ratio. The People's Bank of China said late on Monday it was cutting the RRR, or the amount of cash that banks must hold...

Source: Reuters