CHINA PRESS: China To Raise Basic Pension By 2% Y/y

Large inflows across major markets as the TAIEX gained over 2% yesterday. 

• South Korea: Recorded inflows of +$466m yesterday, bringing the 5-day total to +$3,104m. 2025 to date flows are -$8,273. The 5-day average is +$621m, the 20-day average is +$189m and the 100-day average of -$86m.
• Taiwan: Had inflows of +$1,490m as yesterday, with total inflows of +$2007 m over the past 5 days. YTD flows are negative at -$11,121. The 5-day average is +$401m, the 20-day average of +$137m and the 100-day average of -$105m.
• India: Had inflows of +$282m as of the 9th, with total inflows of +$237m over the past 5 days.  YTD flows are negative -$10,538m.  The 5-day average is +$47m, the 20-day average of +$17m and the 100-day average of -$100m.
• Indonesia: Had inflows of +$63m yesterday, with total outflows of -$225m over the prior five days.  YTD flows are negative -$2,951m.  The 5-day average is -$45m, the 20-day average +$5m and the 100-day average -$29m.
• Thailand: Recorded inflows of +$44m as of yesterday, outflows totaling -$35m over the past 5 days. YTD flows are negative at -$2,128m. The 5-day average is -$7m, the 20-day average of -$28m and the 100-day average of -$22m.
• Malaysia: Recorded outflows of -$19m as of yesterday, totaling -$90m over the past 5 days. YTD flows are negative at -$3,542m. The 5-day average is -$13m, the 20-day average of -$13m and the 100-day average of -$24m.
• Philippines: Saw outflows of -$9m yesterday, with net outflows of -$11m over the past 5 days. YTD flows are negative at -$526m. The 5-day average is -$2m, the 20-day average of -$15m the 100-day average of -$5m.

China and the U.S. have reached a framework in principle for implementing the consensus agreed at the Geneva talks and June 5 heads of state call, said Li Chenggang, international trade negotiator and vice minister of commerce. Li said communication in London was professional, rational, in-depth and candid. (Source: China News Service)

China’s old-for-new subsidy policy has been suspended or limited in some areas such as Chongqing and Guangzhou, in the lead-up to the June 18 mid-year shopping festival, according to Yicai, which cited information obtained from multiple sources. Industry insiders said authorities want a phased supply of funds and are concerned over excessive low-prices. A senior person in the home appliance industry said the suspension or restrictions came after the scheme exceeded expectations. Another insider said consumers may delay buying until authorities restore the programme.