Forex reserve in China rose for the first time in seven months; the reserve valuation back above $3 trillion.

Since the summer of 2014, there have been only seven months, in which the reserves were higher than the prior. With trade uncertainties with the United States looming ahead, there is little to cheer about last month's $7 billion increase.

We suspect that in the second half of the year, the tremors are likely to be felt.