IN BRIEF (Page 5)

PBOC drains funds from money market

China's central bank drained 160 billion yuan ($23.3 billion) from the financial system on Friday, with more reverse repos maturing than conducted. The People's Bank of China injected 10 billion yuan into the market through seven-day reverse repos at an interest rate of 2.55 percent, with 170 billion yuan of reverse repos maturing, leading to a net withdrawal of 160 billion yuan. Some 150 billion yuan of seven-day reverse repos and 20 billion yuan of 14-day reverse repos matured on Friday.

S. Korea sees rise in foreign reserves