CHINA: Country Wrap: Focus on BRIC Strengthens
Sep-17 05:30
Market Summary: All of China's major bourses are up with the Hang Seng leading the charge. The HSI is up +1.41%, the CSI 300 +0.60%, Shanghai +0.40% and Shenzhen up +0.82%. The Yuan Reference Rate at 7.1013 Per USD; Estimate 7.1027 and China's 10-Yr CGB is at 1.78%.
- China is willing to strengthen cooperation with BRICS member states in emerging sectors such as artificial intelligence, while prioritizing partnerships in areas such as electric vehicles and solar and hydrogen power, the country's top industry regulator said on Tuesday. (source China Daily)
- China announced wide-ranging measures to stimulate domestic demand by promoting the consumption of services such as sports and entertainment, the latest attempt to help an economy grappling with slower growth. The plan, issued on Tuesday by the Ministry of Commerce along with several other departments, doesn’t introduce more funding or subsidies for the services sector. But the 19 measures it outlines indicate the government will use its budget to develop the necessary infrastructure and guide banks to lend more to services providers along with consumers. (source BBG)
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US TSY OPTIONS: TUV5 103.75 Puts Lifted In Asia
Aug-18 05:27
Asia-Pac flow of note came in the TUV5 103.75 puts, with paper paying 0-04+/05 over several clips.
CHINA: Country Wrap: Infrastructure Investment Leads
Aug-18 05:26
- China’s infrastructure investment is gaining momentum in 2025, driven by an increase in issuance of of local government special bonds according to an article in the Securities Daily. Year to date infrastructure investment rose over 3% YoY, outperforming the 1.6% growth by overall investment, report cites data by the National Bureau of Statistics . Local government issuers issued new special bonds totaling 2.8369 trillion yuan ($395 billion) this year, up 39.7% from the same period in 2024, report cites data provided by Wind. (source China Securities Daily)
- Local governments are increasing efforts to stabilize the real estate market by optimizing housing policies and accelerating urban renewal initiatives, Shanghai Securities News reported, citing analysts. Urban renewal has become a pivotal turning point in city development. By upgrading existing assets and stimulating domestic demand, it helps reinforce market stability and supports the transformation of the real estate industry: industry experts (source Shanghai Securities)
- China's major bourses have started the week off positively with the Hang Seng up +0.62%, the CSI 300 +1.5%, the Shenzhen Comp +1.2% and Shenzhen up +2%.
- Yuan Reference Rate at 7.1322 Per USD; Estimate 7.1812
- The CGB10 year continues to drift higher, following on from moves on Friday. Having finished Friday at 1.74%, it is up +3bp today at 1.77%, the highest level of the month.
LOOK AHEAD: UK Timeline of Key Events (Times BST)
Aug-18 05:23
| Date | UK | Period | Event |
| 18-Aug | 1530 | --- | DMO likely to publish FQ3 consultation agenda |
| 20-Aug | 0001 | --- | Brightmine pay deals for whole economy |
| 20-Aug | 0700 | Jul | Consumer inflation report |
| 21-Aug | 0700 | Jul | Public Sector Finances |
| 21-Aug | 0930 | Aug | S&P Manufacturing / Services / Composite PMI (p) |
| 21-Aug | 1100 | Aug | CBI Industrial Trends |
| 22-Aug | 0001 | Aug | Gfk Monthly Consumer Confidence |
| 22-Aug | 0700 | Jul | Retail Sales |
| 23-Aug | 1725 | --- | BOE Bailey at Jackson Hole |
| 26-Aug | 0001 | Aug | BRC Monthly Shop Price Index |
| 26-Aug | - | --- | DMO to hold FQ3 consultations with investors / GEMMs |
| 26-Aug | 1700 | --- | BOE Mann at Banxico Conference |
| 27-Aug | 1100 | Aug | CBI Distributive Trades |
| 29-Aug | 0730 | --- | DMO to release FQ3 (Oct-Dec) issuance ops calendar |
| 01-Sep | 0930 | Jul/Aug | Lending to Individuals / M4 / S&P Manufacturing PMI (f) |
| 03-Sep | 0930 | Aug | S&P Global / CIPS UK Final Services PMI |
| 04-Sep | 0930 | Aug | Decision Maker Panel data / S&P Construction PMI |
