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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

AUDJPY continues to struggle around 94.00 despite solid Aussie jobs data

Daniel Rogers

Nov 17, 2022 11:45

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The AUDJPY pair has stayed firm around 94.00 despite the release of bullish Australian employment data. Compared to the projected 15k and the preceding release of 0.9k, the Australian Bureau of Statistics announces that the economy has added 32,200 new jobs to the payroll market. In addition, the unemployment rate has decreased from 3.6% to 3.5% to 3.4%.

 

Australian employment numbers that surpass expectations will impress the Reserve Bank of Australia (RBA). This will allow RBA Governor Philip Lowe to continue steadily hiking rates. In light of this week's release of the RBA's minutes, the central bank will maintain a rate hike structure of 25 basis points (bps) because policymakers believe the Official Cash Rate (OCR) has already been hiked in a short amount of time.

 

Nevertheless, the inflation rate has not yet reached its high, as a historic increase in price growth observed in the third quarter indicates. The Australian inflation rate increased to 7.3%, exceeding the consensus expectation of 7.0%. This prompted the RBA to hike its projected interest rate to 8%. In addition to producing increasing price pressures, a limited market is responsible for the robust purchasing power of households.

 

As Russia-Poland tensions have largely calmed and no further developments are anticipated, the risk profile is expected to diminish.

 

On the Tokyo front, an unexpected decline in Gross Domestic Product is haunting investors. In contrast to expectations of a 0.3% increase, Japan's gross domestic product decreased 0.3% in the third quarter. We were surprised by the q/q decline in the third quarter because we underestimated the impact of higher inflation, the summer wave of COVID-19 infections, and a significant weakening of the yen, which exacerbated the nation's already soaring import costs.

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