(Tiper Stock Exchange) – Most of the Asian markets perform positively, while Chinese lists show general declines after Foreign Minister Qin Gang spoke of an increase in conflict with the United States if Washington does not change its rhetoric against the Asian giant. A few hours earlier, Li Qiang, a member of the Politburo Standing Committee of the Communist Party of China, had said that China would strive to achieve the full-year economic goals and promote high-quality development in 2023.
Meanwhile, macroeconomic data has shown that Chinese exports they decreased again in February compared to the previous year, but the collapse of imports led to an expansion of the trade balance.
On the monetary policy front, the Reserve Bank of Australia (RBA) he raised his key interest rate by 25 basis points to 3.60%, bringing it to the highest since May 2012. This is the tenth increase since last May, raising rates overall by 350 basis points.
Globally, investors await the testimony to Congress of the chairman of the Federal Reserve Jerome Powell (expected today and tomorrow) to get clues about the central bank’s next interest rate move.
Slight increase for the Stock Exchange Tokyowhich shows on Japan’s main stock index a rise of 0.25%, continuing the bullish trail highlighted by three consecutive gains, triggered last Friday, while, on the contrary, the selling on the market of Shenzhenwhich continues the day with a sharp drop of 1.90%. Shanghai drops by 1.11%.
Down Hong Kong (-0.88%); consolidates the levels of the eve Seoul (+0.03%). In the same direction, moderately up Sydney (+0.49%).
The stock market of mumbai it is closed for the Harvest Festival.
Substantial invariance for theEuro against the Japanese currency, which changes hands with a negligible -0.04%. Seat substantially unchanged for theEuro against the Chinese currency, which trades with a moderate +0.1%. The session for theEuro against the Hong Kong dollarwhich trades on the previous day’s values.
The yield for theJapanese 10-year bond is equal to 0.5%, while the yield of Chinese 10-year government bond treats 2.89%.
Among the data relevant macroeconomics on Asian markets:
Wednesday 08/03/2023
00:50 Japan: Current account (expected -818 Bn ¥; prev. 33 Bn ¥)
Thursday 09/03/2023
00:50 Japan: GDP, quarterly (exp. 0.2%; previous -0.2%)
02:30 China: Consumption prices, annual (expected 2.2%; previous 2.1%)
02:30 China: Production prices, yearly (expected -0.5%; previous -0.8%)
Friday 03/10/2023
00:30 Japan: Real household expenditure, monthly (expected 1.4%; previous -2.1%).