Category Archive

Lim Hui Jie

Key Points

• South Korea, Hong Kong, and mainland Chinese markets are closed for a public holiday Tuesday.
• Business optimism among large Japanese manufacturers was unchanged, while sentiment among large non-manufacturers in Japan improved, inching up to +34 from +33 in the third quarter.

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Lim Hui Jie

Key Points

• China’s CSI 300 rallied 8.48%, powered by health-care and tech stocks and closing at 4,017.85.
• This marks a nine-day winning streak, its best day since September 2008 and its highest point since August 2023.
• Japan’s Nikkei 225 tumbled nearly 5% on Monday and the yen weakened against the dollar as traders reacted to the results of the ruling Liberal Democratic Party election last Friday.

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Lim Hui Jie & Evelyn Cheng

@in/evelyn-cheng-53b23624@chengevelyn

Key Points

• Chinese stocks extended gains after state media announced that China’s top leaders had affirmed the government’s latest efforts to support the economy.
• Mainland China’s CSI 300 extended extended its winning streak to the seventh day, hitting its highest levels in about four months after China’s top leaders held a meeting that affirmed the government’s latest stimulus efforts
• South Korea’s Kospi jumped 1.9%, powered by gains in chip maker SK Hynix, which announced it has begun mass production of the world’s first 12-layer HBM3E chip, used in AI memory applications.

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Lim Hui Jie

Key Points

• On Wednesday, the PBOC slashed the medium-term lending facility rate to 2% from 2.3%.
• Australia’s consumer price index posted a 2.7% rise year on year in August, in line with expectations from economists polled by Reuters and easing from the 3.5% rise in July.

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Lim Hui Jie

Key Points

• The People’s Bank of China announced it will reduce the reserve requirement ratio by 50 basis points, among other measures.
• Australia’s central bank held its benchmark policy rate at 4.35%, in line with expectations from economists polled by Reuters.

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Anniek Bao

@in/anniek-yunxin-bao-460a48107/@anniekbyx

Key Points

• Data last Friday showed China’s youth unemployment rate rose for a second straight month to its highest level this year, according to the National Bureau of Statistics, as the labor market cools down amid a weakening economy.
• The Reserve Bank of Australia starts its two-day policy meeting on Monday, where central bankers will decide on the country’s monetary path.
• Singapore is set to release its August consumer prices index, with core CPI estimated to have risen 2.6% year on year, according to a Reuters poll, compared to 2.5% in July.

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Anniek Bao

@in/anniek-yunxin-bao-460a48107/@anniekbyx

Key Points

• The Bank of Japan kept its benchmark interest rate steady at around 0.25% — the highest rate since 2008 — at the conclusion of a two-day meeting Friday. 
• Japan’s core consumer prices index in August climbed 2.8% year on year, in line with Reuters estimates, versus a 2.7% rise in the previous month.
• China also kept its key lending rates steady, with the one-year loan prime rate at 3.35% and the five-year LPR at 3.85%. 

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Anniek Bao

@in/anniek-yunxin-bao-460a48107/@anniekbyx

Key Points

• In lockstep with the Fed, the Hong Kong Monetary Authority cut its interest rate by 50 basis points to 5.25%, as the city’s currency is pegged to the greenback.
• The Bank of Japan has kicked off a two-day meeting ending Friday, where the central bankers will make a key rate decision, after it ended the decades-long ultralow interest rates earlier this year.
• New Zealand’s GDP for the second quarter contracted by 0.2% from the previous quarter, according to the official data released Thursday morning, less than Reuters poll estimates of a 0.4% decline.

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Anniek Bao

@in/anniek-yunxin-bao-460a48107/@anniekbyx

Key Points

• Investors await the Federal Reserve’s rate decision due Wednesday stateside, and assessed economic data from Japan. Indonesian central bank’s rate decision is also due later in the day.
• South Korea and Hong Kong markets are closed today while markets in mainland China will resume trade after a nationwide three-day holiday.

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Anniek Bao

@in/anniek-yunxin-bao-460a48107/@anniekbyx

Key Points

• Traders in Asia assessed Singapore’s non-oil domestic exports for August, which rose 10.7% from a year ago, official data showed Tuesday.
• Tuesday’s economic data also includes India’s wholesale prices for August, which are anticipated to have gained 1.85% year on- ear, a cooler reading than 2.04% in July.
• Shares of Chinese appliance maker Midea Group surged over 9% in their Hong Kong debut, following the city’s largest IPO in more than three years.

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