China MNI Business Sentiment Indicator up to 52.2 from previous 51.1

Nomura notes that if the reports of a 500 bn yuan liquidity injection into the top 5 Chinese banks by the PBOC, via SLF, is confirmed, it would suggest that policymakers are sensitive to the significant weakening seen in the August activity data, adding that the effect of the liquidity injection would be equivalent to a 45bp cut in the bank reserve requirement ratio (RRR).