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Longfor Group (00960.HK): Contracted sales of RMB 2.89 billion in April, and cumulative contracted sales of RMB 10.35 billion from January to April.On May 11, the Peoples Bank of China released its 2026 Q1 China Monetary Policy Implementation Report. The report noted that recent geopolitical events in the Middle East have led to increases in international crude oil and some commodity prices, which has had a certain effect on the current rebound in my countrys price indicators. However, the impact of imported inflation on domestic economic performance needs close monitoring.On May 11, the Peoples Bank of China (PBOC) released its Q1 2026 China Monetary Policy Implementation Report. The report stated that in the next stage, the PBOC will further promote interest rate liberalization and smooth the transmission channels of monetary policy. It will improve the market-based interest rate formation, regulation, and transmission mechanisms, leveraging the central banks guiding role in policy interest rates to guide overnight rates to operate near policy levels and promote low social financing costs. The report will strengthen the implementation and supervision of interest rate policies, conducting timely enforcement inspections and on-site assessments of financial institutions interest rate policy implementation and pricing capabilities to promote improved interest rate pricing capabilities. It will better utilize the market interest rate pricing self-regulatory mechanism, effectively implement various interest rate self-regulatory initiatives, strengthen the regulation of unreasonable market behaviors that could weaken monetary policy transmission, and maintain market competition order. The report will reform and improve the Loan Prime Rate (LPR), focusing on improving the quality of LPR quotes to more accurately reflect the level of loan market interest rates.Deutsche Bank raised its price target for Micron Technology (MU.O) from $550 to $1,000.Market news: Libyas National Oil Corporation stated that Libya has regained full control of the Ras Lanuf refinery.

Hang Seng Index, ASX200, Nikkei 225: Hang Seng Jumps on China PMI

Steven Zhao

Mar 01, 2023 15:37


Market Overview

It was a bullish Wednesday morning session for the Asian markets, with the Hang Seng Index leading the way. The Asian markets brushed aside bearish sessions for the Dow and the NASDAQ Composite Index. US economic indicators disappointed on Tuesday, with consumer confidence weakening for a second consecutive month and house price growth slowing.


The CB Consumer Confidence Index fell from 106.0 to 102.9 in February, with the S&P/CS HPI Composite n.s.a rising by 4.6% year-over-year in December. House prices were up 6.8% in November. Elevated US mortgage rates continue to impact buyer demand, with US mortgage rates bouncing back after a brief retreat.


On Tuesday, the NASDAQ Composite Index fell by 0.10%, with the Dow Jones and S&P 500 seeing losses of 0.71% and 0.30%, respectively. This morning, the US Futures reversed early losses. The Dow mini was up 16 points, with the NASDAQ mini flat.


Private sector PMI numbers from China delivered support to riskier assets this morning. After a China data void, today’s stats provided investors with much-needed relief. The all-important Caixin Manufacturing PMI increased from 49.2 to 51.6 in February. Economists forecast a PMI of 50.2. Significantly, the manufacturing sector expanded for the first time since July 2022.

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