Giving equities a nearterm jolt. Seeing declines across the board. Hang seng off 1. 2 percent and the msci lurching to the downside as you can see from the getgo. A quick look at china benchmarks to see how they are doing. That tells you everything. I guests we had a bit of a gut check for those developers. Not out of the woods. Investors coming to grips that may be the authorities theyve been sort of taking a piecemeal approach. Perhaps they are getting it right. We dont know yet. Theres a feeling perhaps it is working to some extent given the long queues people had looking for properties in shanghai and beijing. Yvonne its amazing. The mortgage down payments, people just start lining up and they saw transactions that weekend was equivalent to what they saw in a month according to some local reports. What did that translate to consumption is another key factor as well. Its interesting to see with Country Garden. Today is the day, or tomorrow, the grace period of the dollar bond ends a
Across the markets. Driving the stimulus, miss confidence. The effect we had, what it did do, nasdaq is up. We continue to see property stocks. Hong kong markets are the first. Theyre cutting down down payments, mortgage rates. Country garden is lifting property, most sectors are in the green. U. S. Markets are closed so we will not see too much in terms of treasuries. The jobs report was talking about moderation. Certainly you are seeing hong kong lead the charge as well as the csi 300. We broke out of declines after the best week we saw since july. We saw seven weeks of gains for the index. In your which is quite rare. We just mentioned. 5. 3 up for the property gauge. Just to reeducate on the welcome stimulus playing out. Lets have a look. We have some important trade data with how the Chinese Markets are doing a deep dive and michelle is taking his place as the last meeting of governor. Rate decisions as well. We will see. It will be interesting to see that the timing cycle may be
4. 9 yearonyear. You are seeing when it comes to the offshore renminbi strength on the back of the dollar strength. Commodities as well, some of these proxies like copper, aluminum seem to be railing on the back of this. Sovereign bond yields, the higher for longer coming back last night after the strong u. S. Retail sales report. Not really seeing that much flight to safety into treasuries. The u. S. Back to levels we have not seen since 2006. Rishaad quickly going to check on the opening and what we can expect out of india. The bot steady. We have the rupee there, very near to the record low we had in the session yesterday. Nifty futures flat. It is about this china data. What does that tell us about domestic demand and manufacturing . Yvonne maybe things are getting a bit more traction. We will take all the good news we can get when it comes to the macro picture in china as well. It was basically the activity data wise the 4. 9 we talked about that. Retail sales was a massive beat.
On friday, university of Michigan Survey showing deteriorating sentiment that sets the tone for Inflation Numbers due later this week and what it means for the fed. Japanese yen tracking a slight decline, firming up following two bouts of intervention, but today we are getting closer to the 156 level at this point in time, and also keeping track on whether that becomes a net negative for investors. Blackrock is the latest saying yen weakness could deter foreigners from Japanese Equities even though we haves seeing it be a big moose when it comes to export gains. Lets look at what is happening in korea. Trade data, we do get the 10 day trade data from south korea that drops. We are waiting for those numbers to come out, and exports gaining 16. 5 on the year. Not just for this region but korea a trading bill for the economy. Haidi take a look in terms of how we are starting to come online when it comes to that stagnant open in sydney. Market to coming off three weeks of consecutive gains
Mackenzie in london. Asian stalks as china will sell long bonds. Uscp are dated due out later this week. President biden set to quadruple tariffs and increase levies on Key Industries as washingtons trade battle intensifies and russian president Vladimir Putin replaces his minister, an unexpected changing of the guard. Lets check in on markets, a big week with focus on inflation on wednesday. You get earnings and wages out of the u. K. , some indication of whether the boj has a pass to go after european stocks point lower. Lets put the board to the cpi print out of the u. S. On wednesday. The twoyear is at 485, 125 on the pound, haiti five dollars a barrel on brent. Some tied to soft data, gold at 2354, lets cross over to asia where avril is standing by. What is standing out to you russian mark avril seeing a mixed bag as far as equities are concerned. Ahead of that we got china data on credit, things pointing to the fact that chinese authorities are struggling. The focus shifted to ch