EUR/USD 1.14640
0.060%
Gold 4151.29
-1.372%
Oil 75.721
0.396%
USD/JPY 161.259
-0.075%
GBP/USD 1.32314
0.207%
GBP/JPY 213.374
0.143%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 19th, a ceremony was held in Antananarivo, the capital of Madagascar, to mark the delivery of meteorological equipment donated by China. The donation, made through a UNDP-implemented livelihood project in Madagascar, included a batch of weather warning and information technology equipment. Madagascar, the largest island in Africa, is located in the western Indian Ocean. Its rainy season and tropical cyclone season run from December to March. In addition to heavy rainfall and tropical cyclones, the country also faces the long-term threat of natural disasters such as floods and droughts, severely impacting its economic and social development and the lives of its people.June 19 - According to TankerTrackers, a maritime news agency, Iran exported approximately 18 million barrels of crude oil, worth about $1.44 billion, in the past five days.On June 19, the Afghan Ministry of Defense claimed that its air force had conducted airstrikes overnight on multiple hideouts in neighboring Pakistans Khorasan province used by the extremist group ISIS. Pakistan denied the claims on the same day. The Afghan Ministry of Defense issued a statement on social media stating that all pre-selected high-value targets in the operation were hit; these targets were located in Pakistans Balochistan and Khyber Pakhtunkhwa provinces. The locations were "used to plan and coordinate attacks against Afghanistan." Pakistans Ministry of Information and Broadcasting issued a statement on June 19 denying the claims. The statement said that a drone from Afghanistan violated Pakistani airspace in the Khyber region, and was identified and immediately shot down by the Pakistani Air Forces early warning and defense system. The statement also claimed that ISIS camps and several other terrorist organizations are actually located within Afghan government-controlled areas and are funded and operated by personnel within the Afghan government.On June 19th, the Guangdong Provincial Peoples Government issued a notice titled "Implementation Plan for Promoting the Expansion and Quality Improvement of the Service Industry in Guangdong Province." The plan includes fostering and developing general aviation transportation, actively developing low-altitude logistics, strengthening provincial and municipal coordination in the management of low-altitude flight activities, and accelerating the formation of a low-altitude cross-border logistics network connecting Hong Kong and Macau. It also supports railway transportation enterprises in deepening cooperation with social logistics companies, strengthening policy support for high-speed rail freight, launching general cargo freight trains, and expanding the general cargo transportation market. The plan actively explores cross-city collaborative transportation and autonomous driving transportation scenarios. Finally, it aims to improve the pipeline transportation network and promote substantial connectivity between the Pearl River Deltas inner ring pipeline network and the provincial pipeline network.On June 19th, the Guangdong Provincial Peoples Government issued the "Implementation Plan for Promoting the Expansion and Quality Improvement of the Service Industry in Guangdong Province." The plan proposes to control new supply, reduce inventory, and optimize supply through city-specific policies. This includes improving the adaptability of housing supply, optimizing the accuracy of housing purchase subsidies, continuously conducting sales promotions for commercial housing, and encouraging promotion outside the province. The plan also calls for the orderly advancement of "good housing" construction and the improvement of public service facilities for real estate development projects. It actively promotes the "sell old, buy new" and "sell small, buy large" approach to commercial housing, implements cross-bank mortgage transfers for second-hand homes, supports qualified enterprises in acquiring second-hand homes, and streamlines the exchange chain between new and second-hand homes. The plan also promotes the conversion of commercial and office buildings for accommodation, shopping malls, medical facilities, and elderly care, thereby reducing the inventory of commercial and office buildings. Furthermore, it intensifies efforts to promote urban renewal, continuously advancing the renovation of old urban residential areas and the construction of complete communities (future communities), supporting the original demolition and reconstruction of old housing and independent renovation, and promoting the housing voucher resettlement model in the new model of urban village renovation.

Asian Stocks Rise; China Plans to Relax COVID Measures; However, Concerns Remain

Aria Thomas

May 30, 2022 11:21

A1.png


China's relaxing of several COVID-19 restrictive measures and U.S. markets' greatest week since November 2020 before Monday's Memorial Day weekend sent Asia Pacific stocks higher on Monday morning.


The Nikkei 225 gained 2% by 10:24 p.m. ET (2:24 a.m. GMT), while the KOSPI gained 1.27 percent.


The S&P/ASX 200 increased 0.91 percent in Australia.


Hong Kong's Hang Seng Index rose 2.19 percent .


The Shanghai Composite rose 0.55 percent, while the Shenzhen Component rose 0.04 percent.


Both the S&P 500 and Nasdaq 100 contracts were higher, a possible indication that the rebound could continue. As institutional investors rebalance their portfolios in anticipation for the end of the month, the S&P 500 erased its May losses and ended a streak of seven straight weekly losses.


As the European Union (EU) failed to agree on a revised package of Russian sanctions in response to Russia's invasion of Ukraine on February 24, the dollar remained stable while the euro fluctuate. The U.S. holiday prevents the trading of cash Treasuries in Asia.


China recorded fewer cases of COVID-19 in both Beijing and Shanghai, encouraging the government to relax some restrictions in an effort to stimulate the economy.


After one of the worst starts to the year for global markets, the key question for investors is whether the bottom of the recent selloff is near. Investors have been buying the dip. Concerns continue, however, regarding stricter monetary policies from central banks, growing food inflation resulting from the conflict in Ukraine, and China's COVID-19 measures.


Bloomberg quoted Citigroup (NYSE:C) Australia head of investment experts Maheebeen Zaman as saying, "We are in the midst of a bear market rally."


Treasury yields are expected to peak in 2022, according to Zaman. "I believe the market will trade in a narrow range as investors try to determine how soon the next recession will arrive and how rapidly inflation will decline," he added.


As of Wednesday, the Fed will also begin reducing its $8.9 trillion balance sheet and will also print its Beige Book assessment on regional economic conditions. Presidents John Williams of the New York Fed and James Bullard of the St. Louis Fed will both speak at separate events on Wednesday, with President Loretta Mester of the Cleveland Fed discussing the economic outlook the next day.


Friday, the United States will release its May employment report, including non-farm payrolls. Tuesday will see the release of the Eurozone consumer price index, as well as China's manufacturing and non-manufacturing purchasing managers indexes.


Later in the day, EU leaders will convene in Brussels for a two-day extraordinary conference to discuss the war in Ukraine, defense, inflation, energy, and food security. The Food and Agriculture Organization of the United Nations will also release its monthly food price index on Friday, just as global supply concerns reach their peak.

Suggestion