Asia Market Movers: Head of China's SMIC says demand still outstrips supply, rush orders to ease in Q4

Friday, 08 Aug, 2025 Stocks Head of China's SMIC says demand still outstrips supply, rush orders to ease in Q4 SMIC says demand still outpacing supply, rush orders set to ease The head of Semiconductor Manufacturing International Corporation (SMIC) said current demand for its products continues to exceed avail News Japanese trade envoy Akazawa reckons he's made progress in US trade talks (gets a refund!) Japanese trade envoy Ryosei Akazawa said the U.S. has agreed to correct a presidential order on tariffs and refund any excess duties collected in error. Speaking in Washington after talks with Commerc Learn more Central Banks RBA tipped to cut rates to 3.60% in August (certainty this time!), more likely by year-end All 40 economists in a Reuters poll expect the Reserve Bank of Australia to lower its cash rate by 25 basis points to 3.60% at its August 12 meeting, following softer inflation and labour market data. Central Banks PBOC is expected to set the USD/CNY reference rate at 7.1742 – Reuters estimate People's Bank of China USD/CNY reference rate is due around 0115 GMT. The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as Central Banks Splits evident at Bank Japan on rate hike timing as inflation stays hot, trade risks loom The Bank of Japan's July meeting summary (post is here) revealed a wide range of views among policymakers on the timing and pace of further interest rate hikes, with members weighing persistent inflat Central Banks BoJ July policy meeting 'Summary" contains multiple references to heightened uncertainty Bank of Japan July meeting 'Summary of Opinions'. At this meeting the Bank left its short term rate unchanged at 0.5%, as expected. Headlines via Reuters: One member said BoJ likely to continue raisin News Japan data - June Household Spending +1.3% y/y (vs. expected +2.6%) Japan data - June Household Spending +1.3% y/y expected +2.6%, prior +4.7% -5.2% m/m expected -3.0%, prior +4.6% Still to come from Japan today is the 'Summary of Opinions' from the Bank of Japan July News Tariff shock sends 2025 oil demand growth to less than half earlier forecasts S&P Global sees tariffs slowing 2025 oil demand growth Despite avoiding a major global recession, higher tariffs are expected to slow world oil demand sharply in 2025, according to S&P Global Learn more Central Banks Bank of England tensions mount - Split BOE vote sets stage for more pound gains The pound could extend its recent gains in the wake of the Bank of England's decision to cut interest rates by 25 basis points on Thursday, according to strategists at TD Securities. BOE cuts bank rat

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