Pre-Trading Thoughts

Banks' net foreign assets position improved significantly by c.78% from a net liability position of USD13.2 billion in February to a net liability position of USD2.8 billion in March. Finance Minister now expects the country’s primary surplus to come in at 5.75% by the end of the current fiscal year. China’s state-owned Xinxing Ductile Iron Pipes Company has begun construction on a USD146 million ductile iron pipe factory in the TEDA industrial park, according to an SCZone statement. Th...