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Asian stocks recovered from early losses on Tuesday after Beijing pledged support for flagging growth. The yuan also strengthened as central bank guidance signalled that authorities were less tolerant of its recent weakness.
Official backing for growth and the yuan reduces near-term downside risk to Chinese import demand, though investors still await specific policy details.
yibn.comJun 27, 2023After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
