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On May 28, the Shenzhen Stock Exchange 2026 Global Investors Conference opened in Shenzhen. The theme of the conference was "Capital Markets and Innovative Growth – Chinas Opportunities under the 15th Five-Year Plan." Liu Haoling, Vice Chairman of the China Securities Regulatory Commission (CSRC), stated that the CSRC will resolutely implement the decisions and deployments of the CPC Central Committee and the State Council, continuously deepen the comprehensive reform of capital market investment and financing, and systematically plan and launch more powerful reform and opening-up measures to address the "variables" of the international environment with a "constant" approach of coordinated development and win-win cooperation.Hong Kong stocks continued to decline, with the Hang Seng Index falling 2% and the Hang Seng Tech Index falling 1.23%. Tech stocks were weak, and innovative drug concepts declined. Meituan (03690.HK) fell nearly 6%, and Hansoh Pharmaceutical (03692.HK) fell 4.8%.On May 28, the 2026 Global Investors Conference, hosted by the Shenzhen Stock Exchange, was held in Shenzhen. Liu Haoling, Vice Chairman of the China Securities Regulatory Commission (CSRC), stated in his address that Chinas comprehensive reforms to investment and financing in the capital market have been progressing steadily and effectively, with overall market valuations remaining within a reasonable range, and foreign investors willingness to allocate to high-quality Chinese assets continuously increasing.On May 28th, the 2026 Global Investors Conference, hosted by the Shenzhen Stock Exchange, was held in Shenzhen. Liu Haoling, Vice Chairman of the China Securities Regulatory Commission (CSRC), stated in his address that China is a major contributor to and a stabilizing force for global economic growth, and a fertile ground for foreign investment. Since the beginning of this year, foreign capital has steadily flowed into the Chinese stock market through various channels. As of now, overseas investors hold over 4 trillion yuan in A-share market capitalization, becoming significant participants in Chinas capital market.On May 28th, European Central Bank Chief Economist Lane stated on Thursday that even if the Middle East conflict is resolved quickly, the resulting energy shock could still have a lasting impact on inflation. While historically, oil prices tend to fall back to their original levels after a surge, the current situation may be different as countries replenish their inventories or adjust their energy mix, potentially keeping energy costs high. Lane stated, "Global oil supply experienced a fairly rapid and significant drop overnight, a situation previously masked by inventories. Even as the initial energy shock begins to subside, the second wave of effects will continue for some time." Lane indicated that some policy lessons can be learned from past energy shocks, such as how rising energy costs can suddenly push up inflation and trigger "various non-linear" mechanisms, thus broadening the scope of price increases. "But this is different from the non-linear situation four years ago," when supply disruptions caused by the war in Ukraine and strong demand from the economic reopening following the COVID-19 pandemic jointly pushed up inflation. Lane stated that central banks must face any major shocks and their potential impact on inflation, but should avoid overreacting when formulating monetary policy.

Prior to the release of Australian employment data, the AUD/JPY pair attempts to regain 89.00

Alina Haynes

Apr 12, 2023 13:44

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The AUD/JPY pair attempts to reclaim the critical resistance level of 89.00 during the Asian session. Kazuo Ueda, the governor of the Bank of Japan (BoJ), has advocated for an extension of the already decade-long ultra-loose monetary policy in order to consistently achieve an inflation rate above 2%.

 

The decelerating Producer Price Index (PPI) contradicts the optimistic outlook of the Japanese government regarding wage growth. As expected by market participants, the March PPI did not change. The annual PPI came in at 7.2%, which was higher than the consensus estimate of 7.1% but lower than the previous release of 8.1%. The inability of companies to sustain accelerating production rates at factory gates is indicative of weak household demand.

 

Analysts at Commerzbank anticipate that the Japanese Yen will only appreciate over the long term if the current monetary policy is abandoned quickly.

 

Regarding the Bank of Japan's (BoJ) Yield Curve Control (YCC), the IMF has stated that allowing more flexibility in YCC could have repercussions for global markets, but it could also prevent future policy shifts that could result in significant spillovers.

 

Investors are awaiting the March Employment Report for fresh impetus in the Australian Dollar. The market expects the Australian economy to add 20,000 employment, which is less than the previous estimate of 64.6K. While the Unemployment Rate is expected to rise to 3.6% from 3.5% in February, it is anticipated that the Unemployment Rate will increase to 3.6%.

 

Governor Philip Lowe of the Reserve Bank of Australia (RBA) has left the door open for additional rate hikes if Australian inflation persists, so the publication of stronger-than-expected employment gains could reignite fears of additional rate hikes.

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