Thungen Financial 5th February 2015 - PBOC Cuts Rate Again

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Thungen Financial 5th February 2015 - PBOC Cuts Rate Again

After a weekend that many thought would see the Chinese Central Bank leave reserve rates alone, just a few days have gone by and they have announced a new rate cut.

Following on from Singapore and Australia who cut rates earlier in the week the PBOC lowered their rate by another 50 basis points in an attempt the get the bank's lending again.

The news saw positive reactions on Chinese markets, with the Hang Sent up over 1.5% and the Shanghai Composite up over 2.4%. They did settle down quickly though and have been relatively flat since the announcement as oil returns to declines after a two day run.

Chinese productivity will be the main data to look for as we enter their New Year period. There has been a slowdown of late and many are looking for a sign that things have picked up so far in 2015.

In other Asian news, Sony, the Japanese electrical firm rallied over 15% on news that its 4th quarter profits were the highest seen in 7 years. The company has faced serious problems lately, least of all an attack on their network that could have come from North Korea, yet the profits came from their hardware division which primarily deals in camera hardware, something Sony is well known for.

With their film and game console business making more trouble than money it is good to know that they still have the ability to pull it out of the bag and surprise investors once in a while.

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