It seemed many in the media jumped on the intra day IO price in...

It seemed many in the media jumped on the intra day IO price in Singapore and Dalian at the end of the morning trade yesterday.

The Dalian (May 2024) was as low as 751 in morning trade. The recovery to 807 by the end of the overnight session was quite a turnaround. The AUD has fallen to 64.9 also.

Manufacturing data, already reported on here, was strong and new home prices were surprisingly strong as well.
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“China's manufacturing activity expanded at the fastest pace in 13 months in March, with business confidence hitting an 11-month high, driven by growing new orders from customers at home and abroad, a private survey showed on Monday.”

“New home prices in China rose at the fastest pace in more than two and a half years in March versus a month earlier, a private survey showed on Monday, driven by a slew of supportive steps to prop up the crisis-hit property sector.

The average new home price across 100 cities rose 0.27% on month in March, the biggest rise since July 2021”