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…
CommSec Morning Report Monday
Latest news • In US economic data, non-farm payrolls (jobs) rose by 390,000 in May (survey: 325,000). The unemployment rate was steady at 3.6% (survey: 3.5%). And hourly earnings rose by 0.3% (survey: +0.4%) to be up 5.2% on a year ago. The ISM services index fell from 57.1 to 55.9 in May (survey: 56.4)….
Could Wall Street contagion spread?
A “triple tightening” of financial policy is roiling the financial economy. Whether or not these ructions transmit to the real economy will determine if we are near the end of this downturn, or merely at the end of the first leg down. Financial policy interventions have loomed large over the past decade. The ultimate intended…
Can the way we invest help the planet?
It can feel like there are endless ways that businesses’ or countries’ activities can harm the planet. But can our investments also make a positive difference? Can they not only avoid harm but also contribute to solutions to challenges like climate change? Here’s what some of Schroders’ experts have to say on the different ways…
CommSec evening Report Friday
Latest News The Australian sharemarket finished the week on a strong note, with the ASX 200 climbing 0.9 per cent or 62.9 pts to 7238.8. Most of the heavy lifting was done by the Tech and Materials sectors, which both snapped a three day losing streak thanks to a strong lead from Wall St overnight…
assets more attractive to global financial institutions: survey
BEIJING, – Financial institutions abroad have greater demand for assets denominated in the Chinese currency renminbi (RMB), an annual survey by the Bank of China showed. Among all the overseas financial institutions surveyed last year, 61.3 percent said that they would increase their holdings of RMB-denominated assets. The proportion expanded by 9 percentage points compared…
central SOEs post steady revenue, profit growth in first 4 months
BEIJING, – China’s centrally-administered state-owned enterprises (SOEs) saw revenue and profit grow in the first four months of 2022, said the country’s top state-asset regulator. The net profits of central SOEs expanded by 5.6 percent year on year in the four-month period, said the State-owned Assets Supervision and Administration Commission of the State Council. Their…
