Market exchange rates in July 7
BEIJING, – The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced on Thursday by the China Foreign Exchange Trade System: Currency Unit Central parity rate in yuan U.S. dollar 100 671.43 Euro 100 683.84 Japanese yen 100 4.9369 Hong Kong dollar 100 85.562 British…
retail prosperity index rebounds in July
The China retail prosperity index, a barometer of retailers’ expectations for the sector, rebounded to the expansion zone in July, according to the China General Chamber of Commerce (CGCC) on Wednesday. The index rose by 0.5 percentage points from the previous month to 50.2 percent in July, data from the CGCC showed. A reading above…
Interview: Airbus speaks on great prospects for Chinese market
– Michel Tran Van, chief operating officer (COO) of Airbus China, has expressed optimism about the world’s leading aircraft manufacturer’s great prospects for the Chinese market, despite major epidemic challenges facing the whole aviation industry worldwide. “We will stay in China. This is a single-country market that is growing the fastest in the long-term,” Tran…
Global stock market indices update
The following are the indices of major stock markets worldwide on Wednesday. IN ASIA The Shanghai Composite Index opened at 3,391.03 points, down 13.00 points, or 0.38 percent. The Shenzhen Component Index opened at 12,935.42 points, down 37.69 points, or 0.29 percent. The Hang Seng Index opened at 21,777.64 points, down 75.43 points, or 0.35…
Interest rate hikes: Harder and faster
The Reserve Bank (RBA) Board has lifted the cash rate by 50 basis points (half of a percent) for a second straight month, taking the cash rate to 1.35 per cent. This represents the biggest back-to-back rate hikes since the cash rate was first targeted in 1990. The RBA increased the interest rate on Exchange…
CommSec Morning Report Thursday
Latest news In US economic data, job openings, as measured by the JOLTs survey, fell from 11.681 million to 11.254 million in May (survey: 11m). The ISM services index fell from 55.9 to 55.3 in June (survey 54.3). The S&P Global services index fell from 53.4 to 52.7 in June (survey 51.6). According to minutes…
Evening report Wednesday
A decline in commodity prices, concerns of a global slowdown and a spike in Covid-19 cases in China, weighed on the Australian sharemarket, with the ASX 200 sliding by 22.7 pts or 0.34 per cent to 6606.6. Losses were led by the Energy sector, which had its worst day since May 2020 after falling by…
Supervision of hog futures market to tame pork price hikes
China will strengthen its supervision over the country’s hog spot and futures markets in a bid to rein in pork price hikes, the country’s top economic planner said on Tuesday. Joint efforts will be made to promptly detect abnormal transactions and enhance penetrative supervision, the National Development and Reform Commission said in a statement after…
China’s economy expected to improve in H2
China’s economy is expected to gradually overcome the negative impacts of the epidemic in the second half of this year, with economic indicators showing improvement amid a raft of supportive policies, according to a report by the Bank of China. Noting that risks including rising global inflation, geopolitical tensions and volatile international financial markets might…
CommSec morning report Wednesday
In US economic data, factory orders rose by 1.6% in May after rising 0.7% in April (survey: +0.5%). European sharemarkets were weaker on Tuesday on on-going recession worries. Oil & gas stocks fell by 6.3% while miners lost 5.2% and utilities lost 2%. Shares in SAS fell 10.2% after the Scandinavian airline filed for bankruptcy…
