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The Hang Seng Tech Index rose more than 2%, and the Hang Seng Index rose 1.76%.On August 13, the Hefei Housing Provident Fund Management Center issued a notice extending the processing period for "commercial-to-public" loans. As of the end of July 2025, the individual loan ratio in the city (including the provincial branch) was 86.73%, and in the city center, it was 90.64%. Based on the acceptance of "commercial-to-public" loans and the current funding situation, the Center has decided that, starting August 20, 2025, individual commercial housing loans issued before December 31, 2021, can be converted into housing provident fund loans.Bilibili (09626.HK) saw its share price increase by 5%.On August 13, Zhu Fenglian, spokesperson for the Taiwan Affairs Office of the State Council, stated at a regular press conference that direct cross-strait air transport has greatly facilitated cross-strait people-to-people and economic exchanges, playing an important role in enhancing the common interests and well-being of compatriots on both sides of the strait. Since its maiden voyage in November 2011, the ro-ro passenger and cargo ship "Haixia" has transported nearly one million passengers and over 38,000 tons of cargo. The resumption of direct cargo flights by the "Haixia" has been warmly welcomed by people on both sides of the strait. It should be noted that due to obstruction and restrictions imposed by the Democratic Progressive Party (DPP) authorities, the long-awaited direct cross-strait passenger flights have yet to resume. There are no obstacles from the mainland to the resumption of normal cross-strait passenger shipping routes. The DPP authorities should fully consider the demands of the people on both sides of the strait and shipping companies, and fully resume direct cross-strait passenger shipping as soon as possible.On August 13, Zhu Fenglian, spokesperson of the Taiwan Affairs Office of the State Council, stated at a regular press conference of the Taiwan Affairs Office that the Democratic Progressive Party (DPP) authorities, out of their nature of seeking "independence", have been constantly manipulating judicial and administrative means to create "green terror", obstructing exchanges and interactions between Hong Kong and Taiwan, Macao and Taiwan, and escalating confrontation. Their despicable tricks are doomed to fail.

NZD/USD finds support near 0.6220; a decline appears more probable due to China's Covid concerns

Alina Haynes

Nov 28, 2022 15:04

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China's anti-Covid shutdown protests have weakened commodity-linked currencies, resulting in a gap-down start of roughly 0.6220 for the NZD/USD pair. During the previous week, the New Zealand dollar dropped after failing to surpass the round-level barrier of 0.6300.

 

Individuals have taken to the streets in China to demonstrate their opposition against the zero-tolerance policy, leading to a rise in civil unrest. Due to Chinese leader Xi Jinping's conservative posture and authoritarian framework, global markets have become more risk-averse. This has created an economic expansion risk and may worsen the already shaky housing market. Increasing apprehensions about societal risks may also result in political instability, which may have long-lasting detrimental effects on economic structure.

 

Notably, New Zealand is one of China's most important trading partners, and instability in China could damage the New Zealand Dollar.

 

In the meantime, the US Dollar Index (DXY) is profiting from investors' liquidity as the demand for safe-haven assets surges. The USD Index is hovering around 106.20 and attempting to reduce volatility as China's anti-locking protests restrict the upside and predictions of a slowdown in the Federal Reserve's larger rate hike cycle limit the downside (Fed).

 

S&P500 futures are under heavy pressure from market players due to a risk-averse market mentality. In anticipation of Fed chief Jerome Powell's address on Wednesday, yields on 10-year US Treasuries have decreased to approximately 3.68 percent. The Fed Chair's speech could dispel suspicions about a pause to the Fed's current rate-hiking program.