Week to June 26: foreign investors were net sellers of Japanese government bonds, -493.7 bln yen, versus -1,057.3 bln yen the prior week.

New Zealand building consents May MoM -4.0%; prior revised from 10.90% to 11.1%.

RMB internationalization remains a policy priority. Hong Kong, as an international financial centre and offshore RMB hub, is implementing measures to deepen the offshore RMB market and strengthen mainland–Hong Kong market connectivity. Authorities are promoting wider corporate use of RMB in trade and financing to ease cross-border operations and reinforce Hong Kong’s conduit role between the mainland and global markets. Industry feedback highlights frictions: corporate inertia toward other currencies, legacy operational and accounting systems that do not support RMB transactions, and limited awareness or cost‑benefit analysis of RMB banking products. Hong Kong authorities are consulting with industry and mainland policy departments to identify practicable solutions.