CHINA PRESS: Further Support For Stabilising Housing Market Necessary

Feb-27 01:30

Local and central governments should cooperate to introduce additional support measures to stabilise the housing market further as early as possible, Securities Times reported, citing analysts. Authorities need to keep lowering housing mortgage interest rates, taxes and fees, said Qin Hong, senior research fellow at the National Academy of Development and Strategy, Renmin University. The central government should assist local officials to recycle vacant land from property developers using local special bonds, Qin said.

Want to read more?

Find more articles and bullets on these widgets:

Link to the page Link to the page Link to the page Link to the page

Historical bullets

JGBS: Rinban Purchase Offer

Jan-28 01:12

The BoJ offers to buy a total of Y750bn of JGBs from the market:

Y300bn worth of JGBs with 1-3 Years until maturity
Y300bn worth of JGBs with 3-5 Years until maturity
Y150bn worth of JGBs with 10-25 Years until maturity

EQUITIES: Asian Equities Lower, Following DeepSeek Rise, Many Markets Closed

Jan-28 01:02

Asian stocks fell sharply as a global tech selloff, triggered by Chinese AI startup DeepSeek’s rise, rattled investor confidence. Japan’s Topix and Nikkei indices dropped 0.6% and 1.5%, respectively, with chip-related stocks like Advantest and Disco Corp. sliding further. Concerns emerged over the sustainability of high AI valuations after DeepSeek's low-cost model topped Apple’s app store, while Nvidia saw a historic $589 billion market-cap loss.
The yen strengthened, adding pressure on Japanese exporters, but strategists suggested the market could stabilize ahead of earnings season.
Australia's ASX is trading little changed this morning, benefitting from its small exposure to tech stocks. Consumer Discretionary stocks are leading the gains, while Real Estate stocks, led by Goodman Group after concerns grow due to their large exposure to data centers, the stock was last 7% lower.
US equity futures were flat after President Trump announced upcoming tariffs on foreign semiconductors and metals, fueling USD gains. Global attention is now focused on this week’s Big Tech earnings from Microsoft, Apple, and others, with slower profit growth expected amid stretched valuations. Lunar New Year holidays in many Asian markets limited trading activity.

AUSTRALIA DATA: NAB Business Surveys, Business Conditions Improve

Jan-28 00:42

Australian business conditions improved in December, rising 3pt to +6, driven by a recovery in retail as consumer spending strengthened and price pressures eased. Retail conditions turned positive for the first time since November 2023, while business confidence edged up 1pt to -2. Services sectors remained the strongest performers, and capacity utilization rose to 82.8%, above its long-term average, indicating robust demand.
The report highlights softer wage pressures, with labor cost growth at 1.4%, ahead of key quarterly inflation data that may prompt the RBA to consider rate cuts.
Focus will now turn to tomorrow's 4Q CPI, which is expected to show a drop to 2.5% from 2.8% y/y prior. RBA-date OIS is pricing in a 80% chance of a 25bps cut at the Feb meeting, firming 2bps this morning.

Related bullets

LNG: CNOOC LNG Auctions Draw Limited Interest: Platts

LNG: China LNG Imports Show Yearly Rise Again in Jan

EM ASIA CREDIT: China Vanke (VNKRLE): Focused on funding

Trending Top

MNI US Macro Weekly: The Fog Of Warsh

Jan-30 21:43

MNI US Credit Weekly

Jan-30 21:11

MNI: Warsh Credible Pick, Must Earn FOMC Support: Ex-Officials

Jan-30 19:16

MNI Podcasts

Unearthing fresh policy thinking & market intelligence.

/podcasts