By Reuters Staff
5 Min Read
(Repeats with no change to text) Following are the highlights of Australia’s 2021/22 budget and the Treasury’s key economic forecasts released on Tuesday. For a story on the budget, click FORECASTS SURPLUS/DEFICIT New (Pct of GDP) Previous (Pct of GDP) (In A$ bln) f’cast f’cast 2021/22 -106.6 (-5.0) -108.5 (-5.3) 2022/23 -99.3 (-4.6) -66.0 (-3.0) 2023/24 -79.5 (-3.5) 2024/25 -57.0 (-2.4) GDP GROWTH 2021/22 2022/23 2023/24 2024/25 (In pct) New Old New Old New Old New Old
4.25 3.50 2.50 2.50 2.25 2.75 2.50 - UNEMPLOYMENT 2021/22 2022/23 2023/24 2024/25 (In pct) New Old New Old New Old New Old
5.0 5.5 4.75 5.25 4.5 5.25 4.5 - CPI INFLATION 2021/22 2022/23 2023/24 2024/25 (In pct) New Old New Old New Old New Old
Korean won weakens against U.S. dollar South Korea benchmark bond yield falls For the midday report, please click
SEOUL, May 12 (Reuters) - Round-up of South Korean financial markets: South Korean shares ended down on Wednesday, logging their sharpest decline in three weeks, as foreigners continued to offload stocks on caution ahead of U.S. inflation data due later in the day. Both the won and the benchmark bond yield fell. The KOSPI ended down 47.77 points, or 1.49%, to 3,161.66, its biggest single-day drop since April 21. The index had ended 1.23% lower on Tuesday. Among the heavyweights, technology giant Samsung Electronics fell 1.48% and peer SK Hynix fell 2.85%, while LG Chem fell 5.27% and Naver fell 1.72%.
3 Min Read
SYDNEY, May 12 (Reuters) - The Australian and New Zealand dollars pared recent gains on Wednesday as a sell-off in global shares dragged on risk currencies, while Aussie bonds underperformed as government borrowing plans disappointed bulls.
The Aussie faded to $0.7817 and away from a 10-week top of $0.7891 hit early in the week. A sustained break of chart support around $0.7820 could see a test of $0.7790, and risk a relapse toward $0.7700.
The kiwi dollar eased to $0.7248, having also failed to sustain a 10-week high at $0.7304. The loss of $0.7240/50 could see it back to $0.7210.
The Aussie was undermined in part by news China’s Dalian Commodity Exchange was proposing to reduce the standard iron content requirement in its flagship futures, seeking to broaden supply sources and stem a record-setting rally.
April M2 money supply +8.1% y/y, vs forecast of +9.3% Outstanding TSF +11.7% Y/Y, vs 12.3% in March TSF 1.85 trln yuan, vs forecast 2.25 trln yuan (Adds detail on slowest loan growth in nearly two decades)
BEIJING, May 12 (Reuters) - China’s new bank loans fell more than expected in April while money supply growth slowed to a 21-month low, as the central bank gradually scales back pandemic-driven stimulus to reduce debt and financial risks in hot areas of the economy.
The world’s second-largest economy grew by a record 18.3% in the first quarter, rebounding from last year’s coronavirus shock, driven by strong domestic consumption, surging exports and continued government support for businesses, especially smaller firms.