Evening report Wednesday
The Aussie sharemarket kicked off a strong note, but withdrew some of its gains after the ASX 200 finished 0.36 per cent higher, or 25.4 pts, to 7121.1. Financial stocks weighed on the index heavily after the Reserve Bank of Australia (RBA) announced its largest rate hike in 22 years yesterday. Energy stocks had their…
services sales boom during Dragon Boat Festival
BEIJING, – China’s sales of consumer goods and services expanded year on year during the Dragon Boat Festival holiday, and catering and hospitality sectors posted substantial recovery, official data showed. Retail sales nationwide during the three-day holiday ending Sunday climbed 9.5 percent year on year, said the State Tax Administration. Sales of daily necessities like…
central bank adds liquidity via reverse repos
BEIJING, – China’s central bank on Tuesday conducted 10 billion yuan (1.5 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People’s Bank of China. The move aims to keep liquidity in the banking system…
Market exchange rates
BEIJING, – The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced on Tuesday by the China Foreign Exchange Trade System: Currency Unit Central parity rate in yuan U.S. dollar 100 666.49 Euro 100 712.28 Japanese yen 100 5.0416 Hong Kong dollar 100 84.956 British…
CommSec Morning Report Tuesday
Latest news • European sharemarkets rose on Monday. The pan-European STOXX 600 index climbed by 0.9%. Basic resources stocks advanced 2.5% on demand optimism after China eased Covid-19 restrictions. The German Dax index gained 1.3% and the commodities heavy UK FTSE index lifted 1% before UK Prime Minister Boris Johnson narrowly survived a confidence vote…
Q&A – when will inflation peak?
Volatility continues on global sharemarkets, the $64 question being: when will inflation peak? Investors are watchful with investor inflation expectations easing in recent weeks. The benchmark US S&P 500 index has lifted by 5.3 per cent after ‘bottoming’ at 3,900.8 points on May 19. And the US 10-year Treasury yield has fallen by 27 basis…
Market exchange rates in China — June 6
BEIJING, – The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced Monday by the China Foreign Exchange Trade System: Currency Unit Central parity rate in yuan U.S. dollar 100 666.91 Euro 100 715.61 Japanese yen 100 5.1006 Hong Kong dollar 100 84.997 British pound…
central bank adds liquidity via reverse repos
BEIJING, – China’s central bank on Monday conducted 10 billion yuan (1.5 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People’s Bank of China. The move aims to keep liquidity in the banking system…
China’s second-hand housing market May 2022
BEIJING – China’s second-hand housing market regained some lost ground last month as the country eases financing and restrictions for home buyers, according to a report by the Beike Research Institute. In May, the sales volume of previously-owned homes in 50 cities rose by about 14 percent from a month ago, according to the report….
Mid-year online bonanza paves way for recovery
BEIJING – China’s weeks-long mid-year online shopping event got off to a steady start amid business resumption and pro-growth policy incentives, which analysts believe can help boost consumption as COVID-19 impacts wear thin. The annual shopping bonanza, featuring promotional campaigns at multiple e-commerce platforms, kicked off on June 1. Many online retailers said sales took…
