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On May 19th, Capital Economics economists stated that although the Japanese economy had accumulated solid growth momentum before the Iran war, GDP growth is expected to stagnate this quarter and next. Capital Economics economist Marcel Tiliant pointed out that first-quarter data showed both household spending and business investment increased quarter-on-quarter, with a significant increase in exports exceeding a smaller increase in imports, providing impetus for economic growth. However, despite market speculation that fiscal policy under Prime Minister Sanae Takaichi would become more accommodative, government consumption slowed quarter-on-quarter, highlighting that the supplementary budget announced last November had not had a substantial impact on government spending. Meanwhile, consumer confidence declined sharply, and the fuel price cap only temporarily curbed inflation. Tiliant added that even if the Japanese government compiles a new supplementary budget to fund gasoline subsidies, it will at best only stabilize consumer spending.

Reserve Bank of Australia meeting minutes: Previously anticipated that long-term inflation expectations could get out of control.

Reserve Bank of Australia meeting minutes: The committee had previously considered whether to raise interest rates by 25 basis points or keep the rate at 4.10%.

Tencent Music (01698.HK) shares rose more than 5% after the company announced the completion of its acquisition of Himalaya.

Reserve Bank of Australia meeting minutes: The Committee will take necessary measures to meet its inflation and employment targets.

Reserve Bank of Australia meeting minutes: Most people believed that the risks to the inflation target had increased and were not confident that the 4.1% interest rate would be sufficient to offset these risks.

Reserve Bank of Australia meeting minutes: The committee unanimously agreed that Australian economic growth is likely to be below potential for some time.

Reserve Bank of Australia meeting minutes: Committee members expect inflation to return to target without further policy tightening.

Reserve Bank of Australia meeting minutes: Eight members believed the case for raising interest rates was the strongest, while one member wanted to wait for more information.

Reserve Bank of Australia meeting minutes: Regarding future policy decisions, the Committee unanimously agreed that monetary policy cannot alter the short-term inflation trend.

The main contract for 2-year Treasury bond futures (TS) remained unchanged, the main contract for 5-year Treasury bond futures (TF) rose 0.01%, the main contract for 10-year Treasury bond futures (T) rose 0.07%, and the main contract for 30-year Treasury bond futures (TL) rose 0.12%.

As of 09:30 Beijing time, WTI crude oil futures fell 1.53%, while US natural gas futures rose 0.20%.

Tencent Wealth Management's current account + 7-day annualized yield ranges from a maximum of 1.4860% to a minimum of 0.7290%. WeChat Pay's 7-day annualized yield ranges from a maximum of 1.0210% to a minimum of 0.9920%. Alipay's Yu'ebao's 7-day annualized yield ranges from a maximum of 1.1690% to a minimum of 1.0010%.

Japanese Minister of Economy, Trade and Industry Minoru Jonouchi: The government will respond flexibly while closely monitoring the impact of the Middle East conflict on the economy, as well as the impact of rising prices on household and business activities.

Japanese Economy and Fiscal Policy Minister Minoru Shirou: We must be vigilant about the impact of the Middle East conflict on the economy.

Japanese Economy and Fiscal Policy Minister Minoru Shirou: The impact of government measures may support a moderate economic recovery.

Japanese Minister of Economy, Trade and Industry Minoru Shirou: This year's wage negotiations have been strong, and working conditions have improved.

On Tuesday, May 19, the Hang Seng Index opened 18.19 points higher, or 0.07%, at 25,693.37; the Hang Seng Tech Index opened 6.58 points lower, or 0.14%, at 4,838.36; the H-share Index opened 5.82 points lower, or 0.07%, at 8,592.15; and the Red Chip Index opened 4.59 points higher, or 0.1%, at 4,489.15.

The People's Bank of China (PBOC) announced today that it conducted 500 million yuan of 7-day reverse repurchase operations, with a bid amount of 500 million yuan and a winning bid amount of 500 million yuan. The operation rate was 1.40%, unchanged from the previous rate.