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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

S&P 500 (SPY) Rallies As Dollar Pulls Back From Highs

Skylar Shaw

Sep 29, 2022 14:24

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Stocks Rise Following a Drop

As traders raced to purchase oversold equities, the S&P 500 acquired significant upward momentum and surged near the 3700 mark.


The U.S. Dollar Index reached highs close to 114.50 before losing steam and falling down into the 113 level, giving stocks important support.


Additionally, Treasury yields have decreased. Ten-year Treasury yields decreased from 4.00% to 3.75%, while 2-year Treasury yields changed from 4.30% to 4.15%. Lower Treasury rates were another encouraging factor for markets.


Given that the S&P 500 was oversold, the wide nature of the bounce is not unexpected. Energy stock prices are well supported as WTI oil has reclaimed the $80 mark. In today's trading session, Marathon Petroleum, Hess, and Valero Energy are all up more than 4%.


Stocks of basic materials have increased as the price of commodities has generally increased. Leading gold producer Newmont increased by more than 3%, while Freeport-McMoRan, a producer of copper, increased by more than 2%.


Lecanemab, a medication for Alzheimer's, was shown to be effective in a late-stage experiment, which helped Biogen increase its share price by 38%. Today, shares of Eli Lilly, which makes a comparable medication, are up 8%.


From a broad perspective, traders will probably continue to pay attention to the movements of the US dollar and Treasury rates. The intricacies of demand for safe-haven assets are highlighted by demand for the US dollar. Stocks will get greater support if the US currency keeps falling.

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