On Sept. 4 Shanghai and Shenzhen combined turnover was CNY 2.03 trln, up from the prior session and moving away from the April 7 year-to-date low of CNY 1.61 trln. It was the 12th consecutive session below the 20-day moving average (CNY 2.16 trln), indicating continued muted market liquidity and subdued trading sentiment.

澳新銀行高級經濟學家Jasmine Zheng：因此，我們預計招聘廣告數量將逐步趨於下降。不過，鑑於該系列的韌性，我們預計失業率的上升將是溫和的。

Tim Church, head of Morgan Stanley’s Australia investment banking, said at an Australian Financial Review property summit that the insolvency of Sydney residential developer Bathla will have material economic effects and could curb consumer spending as house prices fall. Bathla is negotiating with creditors after becoming insolvent amid slowing sales and rising construction and financing costs; it had borrowed heavily from the private credit market. The country’s securities regulator last week called the situation extremely complex. Church said there is no doubt this exposes cracks in private credit and does not look like good capital management; he expects Australian house prices to fall roughly 15% peak-to-trough.