Copper climbs on optimism over Beijing easing property market crackdown
- Copper jumped to $8,455/t, up $200 since yesterday on media reports of a more accommodative policy from Chinese lawmakers to the suffering property sector.
- Bloomberg reports Beijing may offer more leverage to property, easing its stringent ‘three red lines’ crackdown on debt in the sector from November 2021.
- The Yuan advanced 0.4% and an index of Chinese developers climbed 3% on the news. High yield property bonds have also strengthened to their highest levels since January 2022 at 75c on the Dollar.
- The move comes as an additional sign Beijing is moving to shore up the sector’s growth prospects, having introduced its 16-point plan to shore up balance sheets late last year.
- Xi has continued to emphasise that ‘property is for living, not speculation,’ with the three red lines a move to burst a bubble that has been building in mainland Chinese property for over a decade.
- However, home sales tumbled over 2022, declining for 15 straight months. This hit China’s growth prospects, weighing on local government finances, real estate investors and the base metals demand.
- A retraction of the three red lines approach will mark Beijing’s largest policy shift to date on property, however future demand remains of a concern, with a surplus of apartment blocks across China remaining.
AIS - EW Chart, page-1617
-
- There are more pages in this discussion • 436 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AIS (ASX) to my watchlist
(20min delay)
|
|||||
Last
18.0¢ |
Change
0.015(9.09%) |
Mkt cap ! $174.1M |
Open | High | Low | Value | Volume |
17.5¢ | 18.0¢ | 16.5¢ | $336.0K | 1.962M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 9500 | 17.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.0¢ | 507233 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 9500 | 0.175 |
5 | 488790 | 0.170 |
4 | 212391 | 0.165 |
11 | 639335 | 0.160 |
5 | 515725 | 0.155 |
Price($) | Vol. | No. |
---|---|---|
0.180 | 507233 | 12 |
0.185 | 171085 | 5 |
0.190 | 50000 | 1 |
0.195 | 156095 | 3 |
0.200 | 364658 | 7 |
Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
Featured News
AIS (ASX) Chart |