IN BRIEF (Page 5)

PBOC injects $4.24b via reverse repos

The People's Bank of China, the central bank, pumped 30 billion yuan ($4.24 billion) into the financial system on Friday through seven-day reverse repos at an interest rate of 2.55 percent. With no reverse repos maturing on Friday, this led to a net injection of 30 billion yuan. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Cloud computing sector to top $42b