ForexLive Asia-Pacific FX news wrap: China property stocks surge

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Hong
Kong listed Chinese property developer shares rose strongly during
the session with news over the weekend that deeply indebted Country
Garden Holdings had been given approval to extend payments for an
onshore private bond. The fate of an offshore bond due later this
week remains unknown.</p><p>The
jump for property stocks dragged wider indexes higher also. As I
update Hong Kong’s Hang Seng is more than 2.5% higher for the
session while the Shanghai Composite has risen more than 1%.
</p><p>Major
forex rates have traded in mainly small ranges. The Australian dollar
has risen. We had monthly inflation readings from Australia today
(see bullets above) that were subdued m/m. Quarterly business
inventory data were released and will detract from Q2 GDP.</p><p>As
a reminder, if you need one, US and Canadian markets are closed
today. Globex hours as follows:</p><p>(<a href="https://www.forexlive.com/news/its-us-labor-day-holiday-monday-4-september-2023-here-are-the-cme-globex-trading-hours-20230903/" target="_blank" rel="follow">source of this is here</a>)</p>

This article was written by Eamonn Sheridan at www.forexlive.com.