# Asian stocks, yuan perk up on brighter China prospects

> 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.

- Date: 2023-06-27 · published 2023-06-27T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/10495-asian-stocks-yuan-perk-up-on-brighter-china-prospects
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Official backing for growth and the yuan reduces near-term downside risk to Chinese import demand, though investors still await specific policy details.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-01-10 | [Morgan Stanley bumps up China growth, stocks and yuan forecasts](https://feedsoft.ai/events/37988-morgan-stanley-bumps-up-china-growth-stocks-and-yuan-forecasts.md) | +0.0% | +0.3% |
| USDCNY | 2017-01-05 | [Yuan's surge knocks dollar as China moves on speculators](https://feedsoft.ai/events/73171-yuan-s-surge-knocks-dollar-as-china-moves-on-speculators.md) | +0.1% | -1.0% |
| USDCNY | 2023-11-29 | [Yuan firms on prospects for US rate cuts - Business & Finance - Business Recorder](https://feedsoft.ai/events/33389-yuan-firms-on-prospects-for-us-rate-cuts-business-and-finance-business-recorder.md) | +0.1% | +0.0% |
| USDCNY | 2026-05-25 | [China's yuan advances to 3-year high as investors weigh prospects of US-Iran deal - Markets - Business Recorder](https://feedsoft.ai/events/19484-china-s-yuan-advances-to-3-year-high-as-investors-weigh-prospects-of-us-iran.md) | -0.4% | -0.1% |
| USDCNY | 2023-06-27 | [Asian currencies firm on yuan recovery, stocks mixed - Markets - Business Recorder](https://feedsoft.ai/events/10492-asian-currencies-firm-on-yuan-recovery-stocks-mixed-markets-business-recorder.md) | +0.0% | -1.4% |

## Sources

- yibn.com: https://yibn.com/asian-stocks-yuan-perk-up-on-brighter-china-prospects

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.