# Stocks weaken ahead of plenum

> Hong Kong stocks fell 275 points to a two-and-a-half-month low, and the yuan weakened 24 basis points to 7.2698 per dollar ahead of the July 15-18 Third Plenum. The PBOC announced temporary reverse repos to keep liquidity ample, and analysts flagged a possible reserve requirement cut in the third quarter.

- Date: 2024-07-08 · published 2024-07-08T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/12301-stocks-weaken-ahead-of-plenum
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Weak Chinese equities and currency pressure point to cautious sentiment and possible monetary easing, which could eventually support Chinese commodity demand. In the near term, the risk-off tone is a mild negative for feed demand expectations.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-07-28 | [Asian currencies: Chinese yuan, Hong Kong dollar weaken as China stocks fall](https://feedsoft.ai/events/46285-asian-currencies-chinese-yuan-hong-kong-dollar-weaken-as-china-stocks-fall.md) | -0.6% | -0.6% |
| USDCNY | 2022-10-24 | [China stocks tumble as Xi's team fans economic concern; yuan weakens \| Reuters](https://feedsoft.ai/events/6930-china-stocks-tumble-as-xi-s-team-fans-economic-concern-yuan-weakens-reuters.md) | +0.1% | -1.0% |
| USDCNY | 2024-10-29 | [Dollar peaks against yen ahead of US election and economic data \| Reuters](https://feedsoft.ai/events/28079-dollar-peaks-against-yen-ahead-of-us-election-and-economic-data-reuters.md) | -0.4% | +1.8% |
| USDCNY | 2024-04-16 | [China's cycle of dollar hoarding and weakening yuan gets vicious](https://feedsoft.ai/events/30951-china-s-cycle-of-dollar-hoarding-and-weakening-yuan-gets-vicious.md) | +0.0% | -0.1% |
| USDCNY | 2022-11-28 | [Dollar weakens as U.S. bond yields drop](https://feedsoft.ai/events/38899-dollar-weakens-as-u-s-bond-yields-drop.md) | -2.0% | -2.5% |

## Sources

- thestandard.com.hk: https://www.thestandard.com.hk/finance/article/64220/Stocks-weaken-ahead-of-plenum

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