Danske Bank analysts point out that for the markets, it is noteworthy that the Chinese central bank once again injected cash into the system overnight.
“The central bank offered 80b yuan of seven-day funding, the biggest single-day injection in more than a month. It has fuelled hopes that the Chinese will stimulate the economy further and Chinese stocks are close to 2% higher this morning and both European and US equity futures are pointing higher.”
“A 90-day waiver granted for certain US broadband companies using Huawei equipment might have also helped sentiment. Google will also be able to provide key Android mobile updates for 90 days.”