CHINA: Key Local News Highlights - New Financing Tool to Boost Investment
Sep-04 03:16
Below is a selection of key recent onshore media highlights for China ICYMI : MNI China Press Diges...
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US: Trump - Hormuz Going TO Be Open Very Soon
Aug-05 03:11
Headlines are crossing from Trump interview on Fox News. The US President says Hormuz will be open very soon, which follows the earlier Axios report around a possible Wednesday announcement by the US
"*TRUMP: THE STRAIT'S GOING TO BE OPEN VERY SOON
*PRESIDENT TRUMP SPEAKS IN FOX NEWS INTERVIEW" - BBG
"*TRUMP: IF IRAN BACKS OUT AGAIN THEY'LL GET HIT VERY HARD
*TRUMP: WE'RE HAVING VERY GOOD DISCUSSIONS WITH IRAN" - BBG
BOJ: Rinban Purchase Offer
Aug-05 02:59
The BoJ offers to buy a total of Y555tn of JGBs from the market:
- Y100bn worth of JGBs with <1 Year until maturity
- Y355bn worth of JGBs with 1-3 Years until maturity
- Y100bn worth of JGBs with 10-25 Years until maturity
CHINA: RatingDog PMIs Fall Further; Fiscal Policies in Focus
Aug-05 02:40
- The RatingDog Composite PMI in July reached its lowest since July 2025 prompting calls for monetary policy intervention, though fiscal policies appear more likely.
- The NDRC proposed the construction of major projects and key infrastructure projects, seizing the peak construction season in the third quarter, accelerating the disbursement and use of CNY800 bn of new policy-based financial instruments, and speeding up the issuance and use of special-purpose bonds. The PBOC clearly stated that it will intensify efforts to expand domestic demand and optimize supply, while strengthening coordination with local finance and industrial departments to amplify the incentive effect of policies.
- Following MOnday's decline in the RatingDog Manufacturing PMI, the Services PMI released today saw a decline to its lowest since September 2024.
- The employment sub index fell to +50.8 vs +51.1 in June and prices charged falls vs prior month
- To boost domestic demand, China has allocated CNY100 bn to launch a package of six policies to stimulate domestic demand (four of which are targeted at supporting private investment and two at supporting residents' consumption). These policies, including fiscal subsidies, are aimed at supporting private investment and residents' consumption, and their effects are gradually becoming apparent.
- For now it seems that monetary policy measures may be sidelined whilst efforts continue via the fiscal route.
