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China CPI +1.8% On Year In July





Consumer prices in China were up 1.8 percent on year in July, the National Bureau of Statistics said on Tuesday.


That was in line with expectations and down from 1.9 percent in June.


Prices for food jumped an annual 3.3 percent, while non-food prices added 1.4 percent.


The bureau also said that producer prices were down 1.7 percent on year - exceeding expectations for -2.0 percent after tumbling 2.6 percent in the previous month.


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U.S. Stocks Retreat From Record Highs





U.S. equities climbed down from record highs on Monday as losses in healthcare shares pared gains due to elevated oil prices and a strong performance by the U.S. jobs market in July.


The benchmark S&P 500 touched a record intraday high at the beginning of trading day before closing down at 0.09% at 2.180. 89 while the Dow Jones industrial average was down 0.08%, closing at 18, 529.29. The Nasdaq Composite fell 0.15% to 5, 213.14.


Seven out of the 10 key S&P indexes slid, with the healthcare group leading the losses. Bristol-Myers led the drop and fell for the second day, losing 4.71% following its statement on Friday that its lung-cancer treatment drug did not pass a vital late-stage study.


Meanwhile, the energy index advanced 1.22% with Exxon Mobil and Schlumberger climbing 1.18% and 1.6% respectively.


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Australia Home Loans Add Just 1.2% In June





The total number of dwelling commitments in Australia issued in June was up a seasonally adjusted 1.2 percent on month, the Australian Bureau of Statistics said on Wednesday - coming in at 57,247.


The headline figure was shy of estimates for an increase of 2.3 percent following the upwardly revised 0.8 percent contraction in May (originally -1.0 percent).


Investment lending climbed 3.2 percent to A$11.785 billion after rising 5.3 percent in the previous month.


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Dollar Surges to One-Month High Amid Mixed Economic Data





Following mixed U.K. economic data, the dollar has surged to its highest close since July 8 by 0.3 percent against the British pound. The WSJ Dollar Index has dropped to 0.3 percent with 86.63 while the dollar decreased against the Canadian dollar and the Japanese Yen.


A business survey from the U.K. has indicated that the like-for-like sales have grown by 1.1 percent in July however manufacturing data was lower-than-expected while trade gap is expanding. The dollar has prolonged declines against currencies of emerging markets which remain strong, implying that investors believe that the Fed will not raise rates in the upcoming term.


The dollar has reached its lowest level last seen in July 2015 when it was weak against the Brazilian real by 0.9 percent, down by 0.6 percent against the Mexican peso and fell by 1.1 percent against the South African rand.


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Singapore GDP Climbs +2.1% On Year In Q2





Singapore's gross domestic product expanded 2.1 percent on year in the second quarter of 2016, the Ministry of Trade and Industry said on Thursday - accelerating from the 1.8 percent gain in the three months prior.


On a quarterly annualized basis, the Singapore economy expanded 0.3 percent - up from 0.2 percent in the previous three months.


Upon the release of the data, the MTI narrowed its GDP forecast for 2016 to 1 to 2 percent from 1 to 3 percent.


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New Zealand’s Central Bank Slashes Interest Rates





The Reserve Bank of New Zealand lowered interest rates to a new record low of 2 percent as it aims to combat the persistently low inflation and to cool down the strong New Zealand dollar.


The New Zealand central bank's decision to cut the key interest rate by 25 basis point was highly expected by analysts. But the move had a little effect on easing the kiwi dollar that rose 1.8 percent to a one-year record high of 73.36 U.S. cents on the reports of the rate cut. This is the second rate cut within the year after an unexpected rate cut in March.


RBNZ also indicated that additional easing with be launched based on their present projections and speculations in order to ensure that inflation rate will be near the middle of the targeted range.


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Higher Open Tipped For Malaysia Stock Market





The Malaysia stock market has tracked higher in back-to-back sessions, collecting more than 7 points or 0.4 percent along the way. The Kuala Lumpur Composite Index settled just beneath the 1,680-point plateau, and the market may extend its gains on Friday.


The global forecast for the Asian markets is upbeat thanks to solid earnings news and a rebound in the price of crude oil. The European and U.S. markets were up, and the Asian bourses figure to follow suit.


The KLCI finished modestly higher on Thursday following gains from the financial shares and plantations.


For the day, the index gained 5.77 points or 0.34 percent to finish at the daily high of 1,678.80 after trading as low as 1,670.63. Volume was 1.85 billion shares worth 1.66 billion ringgit.


Among the actives, MISC, Sime Darby, CIMB Group, Maybank, Public Bank, Aeon Credit and RCE Capital all finished higher.


The lead from Wall Street is positive as stocks moved higher on Thursday as the major averages reached new record closing highs.


The Dow added 117.86 points or 0.6 percent to 18,613.52, while the NASDAQ rose 23.81 points or 0.5 percent to 5,228.40 and the S&P 500 climbed 10.30 points or 0.5 percent to 2,185.79.


Stocks got an early lift from the retail sector after solid earnings news from Macy's (M), Kohl's (KSS) and Chinese e-commerce giant Alibaba (BABA).


Additional support followed a rebound in the price of crude oil, which came after Saudi Arabia's Energy Minister said oil producing nations may discuss possible action to stabilize the market.


In economic news, the Labor Department reported that initial jobless claims edged slightly lower in the week ended August 6 - as well as an unexpected uptick in import prices in July.


Closer to home, Malaysia will release Q2 figures for GDP and current account later today. In the previous three months, GDP was up 1.0 percent on quarter and 4.2 percent on year, while the current account surplus was 5.04 billion ringgit.


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Wall St. Lenders Ask Fed Five Years Extension of Conformance Period for Volcker Rule





According to sources, large Wall Street banks are requesting five more years of grace period from the U.S. Federal Reserve to comply with the Volcker rule, a financial reform regulation. The additional grace period comes after three one-year extensions and is set to begin in 2017 and end in 2022.


The extension would give them more time to sell-off fund investments that are hard to sell and will be deemed illegal by the law. Banks can ask for additional five-year extension to depart with illiquid funds under the law on Volcker rule implementation.


Banks asking for the extension includes Morgan Stanley, JPMorgan, Goldman Sachs and other banks.


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New Zealand Services Sector Slows In July





The services sector in New Zealand continued to expand in July, albeit at a slower pace, the latest survey from Business NZ revealed on Monday with a Performance of Services Index score of 54.2.


That's down from the downwardly revised 56.4 (originally 56.7).


It remains well above the boom-or-bust line of 50 that separates expansion from contraction.


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Oil Prices Edge Up on Potential OPEC Production Freezes





Oil prices climbed on Monday on growing speculation that OPEC will take steps to prop up prices in the oversupplied oil market.


Brent crude oil futures traded at $47.13 per barrel, up 16 from their last close while U.S. W.T.I. crude futures climbed by 18 cents at $44.67 a barrel.


Oil prices advanced on heightening speculation of possible freezes in oil production by OPEC members as Saudi Arabia indicated that it is set to talk about steadying the markets at the informal OPEC meeting on September.


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