China’s foreign trade up 7.9 percent in first four months
BEIJING, – China’s total imports and exports expanded 7.9 percent year on year to 12.58 trillion yuan in the first four months of 2022, official data showed Monday. In U.S. dollar terms, total foreign trade came in at 1.98 trillion U.S. dollars in the period, up 10.1 percent year on year, according to the General…
the outlook of China’s economy
ST. GALLEN, Switzerland,- ABB remains bullish about the outlook of the Chinese economy and expects a boost from China to the firm’s electrification, automation and robotics business, said the chairman of the Swiss engineering and automation group. “We had significant order growth in the first quarter in China,” Peter Voser told Xinhua at the 51st…
China’s gold reserves
BEIJING, – China’s gold reserves stood at 62.64 million ounces at the end of April, unchanged from that at the end of March, central bank data showed Saturday. Official data also showed that China’s foreign exchange reserves fell to 3.1197 trillion U.S. dollars at the end of April, down 68.3 billion U.S. dollars, or 2.14…
China greenlights sci-tech innovation IPO
BEIJING, – China’s securities regulator has approved the initial public offering (IPO) of Hubei Chaozhuo Aviation Technology Co., Ltd. on the science and technology innovation board. The company will be listed on the Shanghai Stock Exchange’s sci-tech innovation board, also known as the STAR market, according to the China Securities Regulatory Commission. The issuance should…
Why buying the global shares’ dip may make sense
Buying the dips has usually made sense. In the 14 years since the financial crisis, it has generally paid to assume that central banks or the government would ride to the rescue at the first sign of trouble in the markets. Don’t fight the Fed has been a profitable mantra. It’s not just the desire…
Why the RBA should go easy on rate hikes
One of the stranger things about the Reserve Bank’s announcement of why it’s lifting interest rates by 0.25 percentage points is that it suggests inflation will come down by itself. “A further rise in inflation is expected in the near term,” the RBA says, “but as supply-side disruptions are resolved, inflation is expected to decline…
CommSec Morning Report Monday
Latest news • In US economic data, non-farm payrolls (jobs) rose by 428,000 in April (survey: 391,000). The jobless rate was unchanged at 3.6% (survey: 3.5%). Average weekly earnings rose 0.3% in April (survey:+0.4%) and fell from an annual rate of 5.6% to 5.5% as expected. Consumer credit rose by US$52.43 billion in March (survey:…
CommSec Morning Report Tuesday
Latest news • In US economic data, consumer inflation expectations fell from rose from 6.6% to 6.3% in April (survey: 6.8%). Wholesale inventories rose by 2.3% in March (survey: +2.3%). • European sharemarkets were weaker on Monday on fears of prolonged Covid-19 curbs in China. Travel & leisure lost 6% with technology down 5% and…
The Week Ahead
Australia: An eclectic mix of economic data is expected Over the coming week, survey results are expected on business and consumer confidence with data on overseas arrivals and departures and new home sales. Recently appointed Reserve Bank (RBA) Deputy Governor Michele Bullock participates in a panel discussion. The week kicks off on Tuesday with Roy…
Yuan weakens against Dollar
BEIJING – The central parity rate of the Chinese currency renminbi, or the yuan, weakened 660 pips to 6.6332 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each…
