China’s Industrial Output and Retail Sales Surge, Boosting Recovery Hopes
China’s economic outlook shows improvement as industrial output and retail sales beat expectations in October. Industrial output accelerated to 4.6%, the highest since April, surpassing the forecasted 4.4%. Retail sales, a key consumption indicator, rose by 7.6%, outperforming predictions and marking the fastest growth since May. Despite these positive signals, analysts remain cautious, citing challenges in the property sector and the need for major reforms. The government’s efforts to stimulate the economy, including potential reserve requirement ratio cuts, indicate a proactive approach to sustaining growth amid persistent uncertainties.
Oil falls more than 1.5% on demand fears and strong dollar
Oil fell by more than 1.5% on Monday, pressured by expectations of weaker global demand and by U.S. dollar strength ahead of possible large increases to interest rates, though supply worries limited the decline.
ANZ faces class action for “unfair” interest charged from credit card customers
Australia and New Zealand Banking Group (ANZ.AX) has been sued by a law firm for charging interest on some purchases by credit card holders which were repaid on time for nearly a decade, the parties said on Wednesday.
Asia sits out equities rally as Alibaba slides
Asian shares sat out a global rally on Friday as disappointing earnings from Chinese e-commerce giant Alibaba reinforced worry about slowing growth in the world’s second-largest economy, even as European and U.S. share futures indicated gains.
Australia home price boom piles on pressure for RBA pullback
Australian home prices raced to fresh heights in October, piling pressure on the country’s central bank to open the door to an interest rates rise well before the current projection of 2024.
Aussie jumps as inflation data sparks rate hike talk, yen becalmed before BOJ
The Aussie dollar jumped on Wednesday as surprisingly strong inflation data raised the possibility of sooner-than-planned rate hikes, while the yen was calm as Japan’s central bank is seen retaining its easy monetary policy stance later this week.
Shares in record-setting spree as Fed meeting looms
World stocks hit yet another record high on Tuesday, with European stocks poised for their longest winning streak since 2019 as investors bet likely “transitory” inflation pressures will stay the U.S. Federal Reserve’s hand from signalling a shift in policy settings.
Australian banks, led by CBA, set to return record $15 bln cash to investors
Australia’s big banks are likely to return a record $15 billion or more of cash to investors over the next two years, with investors betting Commonwealth Bank (CBA.AX) will move first and helping drive shares of the top lender to all-time highs.
Australia job ads rise 4.7% in April as demand for labour stays strong
Australian job advertisements climbed for an 11th straight month in April to reach their highest in 12 years, suggesting strong demand for labour will withstand the removal of some government emergency support programmes. Monday’s figures from Australia and New Zealand Banking Group (ANZ.AX) showed total job ads grew 4.7% in April from March, when they rose 7.8%. […]
