CHINA'S FU said at a State Council Information Office briefing on June 16 that the equipment-manufacturing sector is providing clear support to industrial production and has become an important driver of faster industrial output. In May, equipment-manufacturing value added rose 9.5% YoY and accounted for nearly 80% of the increase in industrial value added among enterprises above designated size.

CSI 300 index futures (IF) main contract up 0.41%; SSE 50 index futures (IH) main contract down 0.27%; CSI 500 index futures (IC) main contract up 1.56%; CSI 1000 index futures (IM) main contract up 1.76%.

The Reserve Bank of Australia left the cash rate target at 4.35% and said inflation remains high, warning it will take all necessary measures — including further increases in the cash rate target if required — to curb inflation. The Board noted recent Middle East developments have eased oil prices and reduced near-term inflation risk but cautioned that resolution is at an early stage and there are plausible scenarios where inflation exceeds May baseline forecasts while activity is weaker; global oil-supply issues could continue to pressure energy prices and inflation. The unanimous decision was largely priced; the swap market implies about a 30% chance of an August hike and roughly 16bps of tightening priced for the year.