AGL 38.99 Decreased By ▼ -0.59 (-1.49%)
AIRLINK 130.11 Decreased By ▼ -1.11 (-0.85%)
BOP 7.15 Increased By ▲ 0.34 (4.99%)
CNERGY 4.63 Decreased By ▼ -0.08 (-1.7%)
DCL 8.45 Increased By ▲ 0.01 (0.12%)
DFML 41.03 Decreased By ▼ -0.44 (-1.06%)
DGKC 81.75 Decreased By ▼ -0.34 (-0.41%)
FCCL 32.70 Decreased By ▼ -0.40 (-1.21%)
FFBL 72.32 Decreased By ▼ -0.55 (-0.75%)
FFL 12.38 Increased By ▲ 0.12 (0.98%)
HUBC 109.82 Decreased By ▼ -0.92 (-0.83%)
HUMNL 14.09 Decreased By ▼ -0.42 (-2.89%)
KEL 5.09 Decreased By ▼ -0.10 (-1.93%)
KOSM 7.69 Increased By ▲ 0.08 (1.05%)
MLCF 38.60 Decreased By ▼ -0.30 (-0.77%)
NBP 68.26 Increased By ▲ 4.25 (6.64%)
OGDC 190.00 Decreased By ▼ -2.82 (-1.46%)
PAEL 25.50 Decreased By ▼ -0.18 (-0.7%)
PIBTL 7.47 Increased By ▲ 0.13 (1.77%)
PPL 151.52 Decreased By ▼ -2.55 (-1.66%)
PRL 25.52 Decreased By ▼ -0.31 (-1.2%)
PTC 17.35 Decreased By ▼ -0.46 (-2.58%)
SEARL 81.35 Decreased By ▼ -0.95 (-1.15%)
TELE 7.65 Decreased By ▼ -0.11 (-1.42%)
TOMCL 33.00 Decreased By ▼ -0.46 (-1.37%)
TPLP 8.38 Decreased By ▼ -0.11 (-1.3%)
TREET 16.90 Increased By ▲ 0.28 (1.68%)
TRG 57.51 Increased By ▲ 0.11 (0.19%)
UNITY 28.05 Increased By ▲ 0.54 (1.96%)
WTL 1.34 Decreased By ▼ -0.03 (-2.19%)
BR100 10,561 Increased By 56.7 (0.54%)
BR30 31,061 Decreased By -165.4 (-0.53%)
KSE100 98,811 Increased By 730.8 (0.75%)
KSE30 30,823 Increased By 264.5 (0.87%)

China's primary money rates eased for the week as liquidity conditions improved following the month-end peak demand for cash and even as the central bank drained funds. The volume-weighted average rate of the benchmark seven-day repo traded in the interbank market, considered the best indicator of general liquidity in China, was 2.7725 percent on Friday, more than 8 basis points lower than the previous week's closing average rate at 2.8543 percent.
Traders said cash conditions in the money market were balanced with a tightening bias. One trader at a Chinese bank said although seasonal factors had faded, the central bank's unwillingness to inject net cash into the market this week had made market participants cautious.
For the week, the People's Bank of China (PBOC) drained a net 40 billion yuan ($5.95 billion) from the market via its reverse bond repurchase agreements, compared with a net injection of 280 billion yuan a week earlier. Lu Zhengwei, chief economist at Industrial Bank in Shanghai, said the PBOC's switch to net cash drain via open market operations did not mean a change in monetary policy.
Banks usually shore up their cash positions at the end of the month to meet regulatory requirements, which drains funds from the banking system. Cash conditions in the money market traditionally get tight during that period, but they ease at the beginning of the month.

Comments

Comments are closed.