BOC Senior Deputy Governor Rogers said there is a strong consensus that inf risks are tilted to the upside.

Southbound flows net sold CNY 804m today. Shanghai-linked Stock Connect: Pop Mart and Yangtze Optical Fibre & Cable (YOFC) were net sold HK$655m and HK$258m; CNOOC was the largest net buy at HK$487m. Shenzhen-linked Stock Connect: Xiaomi Group-W and Tencent were net sold HK$123m and HK$88m; Zhipu was the largest net buy at HK$280m.

Westpac Auckland strategist Imre Speizer called the RBNZ’s decision to hold surprising, saying the bank remains cautious on a potentially stubborn medium-term inflation outlook and is seeking more evidence. He said the RBNZ still flags further tightening and that inflation risks are skewed to the upside, keeping its stance aligned with major central banks. ANZ MOOMOO Auckland strategist Tina Teng said the bank faces a trade-off between slower growth and energy-driven inflation: global risks — notably an oil-price spike and weaker growth — could pressure corporate profits and exports. A softer NZD supports exporters but raises import costs, feeding upward pressure on domestic inflation.