Wolf Money(world market review 22-28 June 2026)
Market Summary 22-28 Jun 2026
*USA*
-US PCE inflation up 0.4% MoM or 4.1% YoY in May, highest since Apr 2023; Core PCE at 3.4%, highest since Oct 2023
+ US personal income up 0.7% MoM in May at 10-mth high
+ S&P Global Flash Composite PMI index rose to 52.2 in Jun, highest in 5 mths, Services PMI at 51.3, up from 50.7, Manufacturing PMI rose 0.6 to 55.7, highest since May 2022
+ S&P Global Manufacturing PMI rose to 55.7 in Jun, reaching highest level since May 2022
+ US Q1 GDP revised upwards to 2.1% from revised 1.6% as imports growth revised lower from 11.8% vs 21.1%
+ US Consumer Sentiment index revised higher to 49.5 in Jun, vs preliminary reading of 48.9
-US current ac deficit widened to US$226.8bn in Q1 from revised US$2221.1bn in Q4
-US goods trade deficit widened to US$105.8bn in May, vs US$83bn in Apr; imports rose 3.6% to US$313.4bn, highest in 14 mths, exports down 5.4% to US$207.7bn, 3rd highest on record
-US wholesale inventories up 0.3% MoM to US$943.9bn in May, vs 0.7% rise in Apr
-US manufactured new orders durable goods down 4.5% MoM to US$332bn in May, after revised 8.5% jump in Apr
+ US initial jobless claims benefits eased by 12,000 to 215,000
± US 10-year yield fell to below 4.4%. lowest in 7 weeks
-US sales of new single-family homes down 7.3% MoM to annualised rate of 580,000 in May, lowest in 4 mths
-US warned EU that American LNG could be diverted elsewhere unless EU eases planned methane emission regulations
-US crude oil inventories fell by 6.088m barrels to 412.1m barrels, lowest since Jan 2025
-Goldman Sachs forecast global oil demand could fall by up to 320,000 bpd by end 2027 as EV adoption expands
+ Apple looking to convince US govt for permission to purchase memory chips from blacklisted Chinese firm
± OpenAI may delay IPO until 2027 on tech stock volatility: NYT
*CHINA*
+ China’s industrial profits surged 18.8% YoY to ¥3.14 trillion in Jan-May period, vs 18.2% gain in first 4 mths
+ PBOC said will begin conducting overnight reverse repo operations at end Jun, implementing new liquidity framework
+ PBOC left 1-year and 5-year LPRs unchanged at 3% and 3.05%
+ China’s fiscal spending up 0.8% YoY to ¥11.39 trillion (US$11.39 trillion) in first 5 mths; Central govt expenditure rose 6.5% to ¥1.68 trillion, local govt down 0.1% to ¥9.71 trillion
+ China’s current account surplus widened to US$184.3bn YoY in Q1 from US$163.6bn, a record high for the period
-China stocks close wk lower on AI selloff, HK shares hit 1-year low
+ China’s central bank instructed some commercial banks to increase their lending this mth: sources
+ China trimmed its US Treasuries holdings to an 18-year low in Apr
+ China’s state-owned platforms are seen as possible buyers of troubled mega building projects
+ China to generate 50% of electricity needs from nuclear and non-fossil sources by 2030; total related investment would exceed ¥20 trillion (US$2.9 trillion): NEA director
+ China released 15-point plan aimed at attracting foreign investment and reversing a decline in capital inflows
+ China plans to support local listings by foreign firms in new plan to court overseas capital
+ China’s state-backed Big Fund become 3rd-largest shareholder of SMIC after record Star market buyout
-China to restrict mainland investors form using derivatives as back-door to access global markets; TRS faces restrictions
-China adds 10 US firms to export control list including 2 rare earth firms, restricts 46 others from govt procurement
+ China’s LineShine has been named world’s fastest supercomputer at the Int’l Supercomputing Conference in Hamburg
+ China’s mobile technologies will contribute US$2.1 trillion to economy by 2030, vs US$1.5 trillion or 7.2% GDP in 2025: report
+ Chinese aircon firms are accelerating shift of production to SEA to avert hiked tariffs to hike exports
+ China Easter to buy 25 A330neo widebody jets from Airbus at about US$9.35bn
-China-Japan flights to decline 57% in summer travel peak as tensions remain
+ China’s domestic tourism travel spending rose 4% YoY to US$6.5bn over Dragon Boat festival
-Alibaba sues Pentagon over China military blacklist
+ HK home prices rose 1.4% to the highest in 2.5 yrs in May
-HK inflation rose to 2% in May vs 1.7% in Apr, hitting 13-mth high
+ HK to roll out measures boosting offshore yuan trading in Jul
*EUROPE*
+ EU-US trade: Council gives final approval for the tariff commitments under joint statement
-Eurozone S&P Global Flash Composite PMI increased to 49.5 in Jun, highest since Mar; manufacturing PMI fell to 51.3
± Eurozone inflation expectation next 12 mths down to 3.5% in May, lowest in 3 mths
-German S&P Global Composite PMI fell to 48 in Jun from 48.8 in May, the steepest decline since Dec 2024
-Germany Services PMI declined to 46.8 in Jun to 3.5 yrs low
-Volkswagen considering closing 4 German factories, cutting up to 100,000 jobs, amid soaring energy costs and competition from China
+ UK car production rose 3.2% YoY to 49,249 units in May, the first increase this year
-UK Manufacturing total order book balance fell to -45, lowest since Sept 2020
+ ASML and NXP representatives will be among 17 business executives will join Dutch Trade Minister on trip to China
*ASIA*
+ Japan’s leading economic index rose to 116.1 in Apr, highest level since Jul 2021, supported by govt’s record fiscal budget
+ Japan announced major fiscal expansion, setting ¥370 trillion (US$2.3 trillion) through 2040
-BoJ’s Jun Summary of Opinions signals further rate hikes
+ Tokyo CPI rose 1.6% YoY in Jun, vs 1.3% in May, following the expiration of govt subsidies
-Honda Motor CEO apologises to shareholders for company’s first annual net loss in 70 years
-South Korea stocks suffered sharpest drop in >3 mths on AI overvaluation fears
-Australia beef imports to China trigger extra 55% tariff after hitting annual quota mid-year -
+ Indonesia set to issue US$1bn in panda bonds in China to better stabilise its national finances as rupiah continues to fall
+ Malaysia’s leading economic index increased 1.25% MoM in Apr, fastest pace since last Oct
+ Malaysia will intensify measures to encourage FX inflows, to boost repatriation and conversion of companies’ overseas earnings
+ Sg Manufacturing production up 13% YoY in May, vs revised 6-mth high of 16.5% in Apr; up 10.7% for Jan-May period
+ Sg core inflation holds at 1.4% in May
+Sg released Economic Strategy Review Final Report, include ways to help startups attract foreign talent, grow energy hub roe and jobseekers
Contribution by Derek@valueinvestments chat group. Thank you.
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