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Express News | ANZ predicts that the Reserve Bank of Australia will cut interest rates three times by August.
The Prime Minister of Australia responded to Trump's tariffs: there will be no equal countermeasures, and negotiations for exemptions will be sought.
① Australian Prime Minister Albanese criticized USA President Trump for imposing a 10% tariff on allies, stating that such actions are not what friends do, and indicated that Australia will not impose equivalent tariffs on the USA; ② The Australian government will seek to negotiate with the USA in hopes that Trump will lift the tariffs on Australia.
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The final value of Australia's March S&P Composite PMI has been revised upward to 51.6, reaching a seven-month high and exceeding expectations.
S&P Global announced that after seasonal adjustment, Australia's March S&P Services PMI final value was revised upward from the previous value of 50.8 to 51.6, reaching a seven-month high, exceeding market expectations that the preliminary value would only rise to 51.2. Local service companies experienced the fastest increase in new business inflow since May 2022. To cope with the increased workload, businesses are hiring at the fastest pace in nearly two years. The outlook for operations over the next year remains optimistic among service firms in March. Australia's March S&P Composite PMI final value was also revised upward from the previous value of 50.6 to 51.6, matching the seven-month high and exceeding market expectations that the preliminary value would only rise to 51.3.
In March, Hong Kong's PMI dropped to 48.3, marking two consecutive months of contraction.
Gelonghui, April 3 | The S&P Global March Hong Kong Purchasing Managers' Index (PMI) is adjusted for seasonal variations and stands at 48.3, down from 49 in February, remaining below the 50 boom-bust line for two consecutive months, indicating a deterioration in the business environment at the end of the first quarter of this year, marking the most significant decline in nine months.