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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…

Evening Report Tuesday

Latest News Despite a flat start to trade this morning, the Aussie market managed to secure its second straight win, with the ASX 200 rising 16.7 pts or 0.25 per cent, to 6629.3. Seven of 11 sectors finished higher, with the Energy sector lifting most for the second straight day. The Reserve Bank (RBA) raised…

ETF trading under mainland-Hong Kong stock connect kicks off

Trading of exchange-traded funds (ETFs) under the mainland-Hong Kong stock connect programs began on Monday, marking a significant step to deepening the cooperation of capital markets in both the Chinese mainland and Hong Kong. The inclusion of ETFs in stock connect programs will facilitate investment for both domestic and overseas investors, and help asset managers…

ASIC releases guidance for superannuation calculators

ASIC has released Regulatory Guide 276 Superannuation forecasts: Calculators and retirement estimates (RG 276) and a new legislative instrument updating the relief which facilitates the provision of superannuation calculators and retirement estimates. Superannuation calculators and retirement estimates are low-cost forecasting tools that are intended to be a helpful prompt for consumers to review their financial situation, and…

China’s shale gas hits record output high

The Fuling shale gas field in southwest China’s Chongqing Municipality produced a record high of more than 3.63 billion cubic meters of natural gas in the first half of this year (H1), up 1.9 percent year on year, according to Sinopec, the developer and China’s largest oil refiner. During the same period, 46 new wells…

The US to scrap China tariffs?

MARKETS Relief in EGB spreads, and the outperformance of periphery betas helped European stock lift overnight. And despite recession risk filling the headlines, US stock futures are currently up in no small part thanks to lower US yields and falling volatility, but mainly on the hope that the US will scrap China tariffs even as…

CommSec morning report Tuesday

US financial markets were closed for the Independence Day holiday. European sharemarkets were mixed on Monday. The energy sector rose 4% as oil prices rose on continued concerns about nearterm crude supplies. Healthcare rose 0.7% and miners rose 1.4%. But real estate lost 2.6% and autos lost 1%. According to the Sentix reading, investor morale…

Positive economic forecast for Aussie markets against global recession backdrop

Global recessionary fears hang over markets Positive economic data points surprises are most welcome Why markets are up this morning, and what to watch out for in the week ahead A slow start to the week as the US is currently celebrating its Independence Day weekend. Monday’s data Recently there has been a lot of…