*SOROS HAS BEEN BETTING AGAINST OIL AND COMMODITY PRODUCING COUNTRIES
Meanwhile, Chinese state media have warned billionaire investor George Soros against betting on falls in the yuan or the Hong Kong dollar.
Soros, who made more than $1bn from shorting sterling in 1992, has said he was betting against the S&P 500, commodity-producing countries and Asian currencies, although he has not specifically mentioned the yuan or Hong Kong dollar.
China’s central bank has been making plenty of liquidity available to the banking system to avoid any cash squeeze ahead of the long Lunar New Year holiday early next month.
Traders said that the bank would inject 440bn yuan (£46bn) into the money markets, the biggest daily injection in three years.