In today’s briefing:
- Japan Weekly | Domestic Stocks Miss Global Rally
- Chinese Banks’ Cash Flow Plummets After Crackdown on High Deposit Rates
Japan Weekly | Domestic Stocks Miss Global Rally
- Major central banks are shifting towards rate cuts, with the European Central Bank this week lowering rates to 3.5%
- Japanese stocks ended mixed: Nikkei (+0.5%), Topix (-1%), while the yen strengthened ~1 yen to 140.8/$.
- Ebara, IHI, and Softbank were among the major gainers this week
Chinese Banks’ Cash Flow Plummets After Crackdown on High Deposit Rates
- Chinese banks are under strain as their deposits shrink in the wake of a regulatory crackdown on offering deposit rates higher than regulatory caps.
- In the first half of the year, many Chinese mainland-listed commercial banks saw a decline in their net cash flow generated from operating activities — a key indicator of lenders’ liquidity — Caixin calculations based on their interim reports show.
- Among China’s “Big Six” state-owned banks by assets, only Postal Savings Bank of China Co.
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