JGBS: Little Changed, PM Takaichi: Defend Yen With Stronger Economy

Several major cities relaxed home purchase restrictions or increased dividends during the May Day holiday, driving the housing market, Economic Information Daily reported. Guangzhou increased the maximum housing provident fund loan amount to CNY3.6 million, and introduced a special subsidy of up to CNY30,000 for "selling old and buying new". Shenzhen further relaxed home purchase restrictions to allow non-local residents to buy property in core districts. Wuhan also offered a housing subsidy of 1.5% for first-time buyers and 1% for second-time buyers for their purchases of newly built commercial housing in the eight new urban districts from May to June.

China Bulk Commodities Price Index continued its upward trend in April, standing at 132.1 points, up 1.7% month-on-month and 20.2% year-on-year, with a smaller increase than that of March, according to data released by the China Federation of Logistics and Purchasing. In terms of sectors, the chemical price index continued to climb, reaching 131.8 points, up 7.7% m/m or 28.8% y/y, due to external factors including tight raw material supply and rising production costs. The energy price index edged down slightly to 110.3 points, down 0.4% m/m but still up 12.1% y/y. (Source: Securities Daily)