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Flash: EM recovering from last weeks sell off - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that emerging markets seem to be recovering somewhat from the selloff late last week, albeit reluctantly.

They write, “In the FX space, KRW and MXN are outperforming, with the latter below the key 12.50 level against the dollar. USD/CNY fixed at another record low of 6.1811, defying our call for stop or slowdown in the pace of yuan appreciation. In equity markets, most Asian index closed higher, led by the Indian Sensex rising 1.5%. Eastern European markets were mixed.”

Flash: China tightens shadow banking system - Nomura

Nomura economist Zhiwei Zhang notes that according to 21st Century Economic News, the China Banking Regulatory Commission (CBRC) recently issued new guidelines to strengthen the regulation of bill financing activities.
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