China's economic planner said on Sunday at a meeting it will solidly promote development and reform, sticking to the general principle of making economic stability a top priority and pursuing progress while ensuring stability. The National Development and Reform Commission, the economic planner, highlighted six tasks at the meeting. The tasks include intensifying macro-policy regulation; promoting consumption and increasing investment; supporting the development of the real economy; deepening reform and opening up; consolidating the foundation of economic security; and ensuring and improving public wellbeing, ... (full story)

Following dismal China’s official business PMIs data released on Monday, China issued measures to restore and expand consumption, a document published by the country’s State Council showed. No further details are provided about the same. Market reaction: On the above headlines, AUD/USD is sustaining its recovery toward 0.6700, currently trading at 0.6672. The pair is up 0.38% on the day. (full story)

Hong Kong stocks gained, lifting the market to near a three-month high, as tech leaders surged amid further signs of state support. A government report showed manufacturing in China stabilised last month while traders await more measures from Beijing to spur consumer spending. The Hang Seng Index jumped 1.9 per cent to 20,300.44 at 10.10am local time, the highest level since May 4. The Tech Index surged 4.6 per cent, while the Shanghai Composite Index climbed 1 per cent. JD.com soared 5.7 per cent to HK$162.10 while Alibaba Group jumped 3.3 per cent to HK$99.05 and Tencent surged 2.7 per cent to HK$359.80 and NetEase ... (full story)