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International
-The Bank of Japan is inclined to raise its benchmark interest rate by 25 basis points this month to counter risks of rising prices, while not ruling out the possibility of accelerating the pace of rate hikes thereafter.
Data
-China’s service sector activity regained momentum in August. The S&P Global China Services PMI rose to 51.4 in August from 50.4 in July, putting an end to the earlier slowdown and staying in expansionary territory for the 44th consecutive month.
-In the first eight months of this year, secondhand home transactions in China’s 20 key cities reached 998,000 units, a year on year increase of 6.3%. In August, the transaction volume of secondhand homes across 100 Chinese cities rose by 7.4% year on year. Key cities including Beijing, Shanghai and Shenzhen posted robust secondhand home sales.
-According to preliminary estimates by the China Passenger Car Association (CPCA), retail sales in China’s passenger vehicle market stood at 1.626 million units in August, down 19% y/y and up 11% m/m. Cumulative retail sales of passenger vehicles since the start of this year reached 11.799 million units, down 20% y/y. NEVs retail sales totalled 1.069 million units in August, falling 4% y/y and rising 12% m/m. The cumulative retail volume of NEVs for the year so far came to 6.737 million units, down 11% y/y.
Sep 3 Block Trade Info
*Discount
-Giant Network Group (002558 CH) saw 51 block trades worth 347.73mn at 24.27yuan per share, 7.01pct discount from last closing.
-Hunan Yuneng New Energy Battery Material (301358 CH) saw 15 block trades worth 127.65mn at 52.79yuan per share, 9.30pct discount from last closing.
-Fuda New Materials Group (603045 CH) saw 22 block trades worth 74.71mn at 49.56yuan per share, 7.50pct discount from last closing.
For more insights, please visit Orient Futures Singapore’s research platform, Finoview.
