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The Hang Seng Tech Index fell further to 2%, while the Hang Seng Index is currently down 1.25%.June 3 – On June 1, 2026, Vice Minister of Finance Liao Min met with the International Monetary Fund (IMF) Article IV Interim Consultation Group at the Ministry of Finance. The two sides exchanged views on issues of common concern, including cooperation between China and the IMF, Chinas economic situation, and fiscal policy.According to Japans Kyodo News, Toyota will resume operations at 13 manufacturing plants in Japan on Wednesday evening.Hong Kong-listed tech stocks collectively retreated, with Bilibili (09626.HK) falling nearly 4%, Meituan (03690.HK) and Kuaishou (01024.HK) falling more than 3%, and Alibaba (09988.HK) and Tencent Holdings (00700.HK) falling more than 2%.June 3rd - The China Railway Shanghai Bureau Group Co., Ltd. recently released the passenger transport plan for the 2026 Dragon Boat Festival holiday in the Yangtze River Delta region. This years railway transport period for the Dragon Boat Festival holiday is from June 18th to 22nd, a total of 5 days. During this period, the Shanghai Railway Group expects to transport 17.45 million passengers, with an average daily passenger volume of 3.49 million, representing an 8% year-on-year increase. The peak passenger flow is expected on the Dragon Boat Festival itself (June 19th), with an estimated 4.2 million passengers, potentially setting a new record for single-day passenger volume during the Dragon Boat Festival holiday.

NZD/USD falls rapidly from 0.6260 when the RBNZ announces a decline in inflation projections to 3.07 percent

Daniel Rogers

Aug 08, 2022 12:00

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The NZD/USD pair has encountered selling pressure while attempting to surpass the immediate resistance level of 0.6260. The asset has seen bids after the Reserve Bank of New Zealand (RBNZ) announced inflation estimates at 3.07 percent, down from 3.29 percent previously. It could be an indication of waning price pressure, but additional evidence is still needed to support the argument.

 

Price pressures in the New Zealand economy are increasing and have not yet shown signs of weariness. A June report indicates that an inflation rate of 7.3% is adequate to generate headwinds for families. The RBNZ is consistently escalating its policy tightening measures to combat the same. RBNZ Governor Adrian Orr has already increased the Official Cash Rate by 2.50 percentage points.

 

On the front of the US dollar, the US dollar index (DXY) has returned all intraday gains and is currently trading near the day's open at 106.60. While attempting to break over the crucial resistance level of 106.80, the DXY has encountered selling pressure. This week, investors' attention is centered on Wednesday's release of the US Consumer Price Index (CPI).

 

The annual inflation rate is projected to continue at 8.7 percent, down from 9.1 percent in the previous report. Oil prices have been on a downward trend in July, which may be the determining factor for a significant decline in the price increase index. While the US CPI excluding volatile food and oil prices may increase from 5.9 percent to 6.1 percent, the previous reading was 5.9 percent.

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