electronic information manufacturing sector posts steady growth
BEIJING, – China’s electronic information manufacturing sector maintained steady growth in the first four months of 2022, data from the Ministry of Industry and Information Technology showed. The added value of electronic information manufacturers with annual operating revenues of at least 20 million yuan (about 3 million U.S. dollars) expanded 10.7 percent year on year…
CommSec Morning Report Thursday
Latest news • In US economic data, the ADP employment report shows jobs rose by 128,000 in May (survey: 300,000). New claims for unemployment insurance fell from 211,000 to 200,000 in the past week (survey: 210,000). According to Challenger, job cuts fell from 24,286 to 20,712 in May (survey: 26,000). Factory orders rose by 0.3%…
China’s major ports see steady growth in container throughput in May
BEIJING, – China’s major ports handled over 23 million twenty-foot equivalent units (TEUs) of containers in May, up 4.2 percent from a year ago, according to the Ministry of Transport Thursday. In May, the cargo throughput of major ports monitored reached 1.03 billion tonnes, an average daily increase of 3.2 percent compared with April, data…
auto market gears up for faster recovery over stimulus package
BEIJING, – China’s auto market is gearing up for faster recovery as policymakers flesh out details for a stimulus package to help the hard-hit industry that plays a critical role in boosting demand, lifting consumption and creating jobs. In the latest move, China has decided to slash the purchase tax by half for passenger cars…
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 Thursday by the China Foreign Exchange Trade System: Currency Unit Central parity rate in yuan U.S. dollar 100 670.95 Euro 100 714.83 Japanese yen 100 5.1562 Hong Kong dollar 100 85.502 British pound…
central bank adds liquidity via reverse repos
BEIJING, – China’s central bank on Thursday 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…
The Devil is always in the ISM detail and can OPEC deliver more barrels ?
MARKETS US equities were weaker Wednesday, S&P down 0.7%. US10yr yields up 6bps to 2.91%. Bunds up 6bps as well, to 1.18%. Equities are trading lower again as the employment piece of ISM manufacturing contracted and the prices paid component remains elevated. If investors did not take kindly to Tuesday’s higher than expected inflation print…
CommSec Morning Report Thursday June 2, 2022
Latest news In US economic data, the ISM purchasing managers index (PMI) rose from 55.4 to 56.1 in May (survey: 54.5). JOLTS job openings fell from 11.855 million to 11.4m in April (survey: 11.4m). The S&P Global manufacturing PMI fell from 59.2 to 57.0 in May (survey: 57.5). Construction spending rose 0.2% in April (survey:…
CommSec Evening Report Thursday
Latest News • Following a weak lead from Wall St overnight, the ASX 200 shed 0.8 per cent or 58.1 pts, to finish at 7175.9. The Energy sector had its best day since March 2022 and the Utilities sector rebounded after it suffered its worst decline in over two years on Wednesday. Tech, Materials and…
Wednesday evening report
The Aussie sharemarket had a choppy start to the month and dipped into negative territory despite a positive start to trade. At the close however, the S&P/ASX 200 finished with a modest increase of 0.3 per cent or 22.8pts, to 7234. Of the 11 major sectors, seven finished in positive territory. The Utilities sector dragged…
