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AUSTRALIA DATA

Australia Oct New Housing Loans Commitments -2.5%

AUSSIE BONDS

Off Early Highs

AUSTRALIA DATA

Australia Oct Exports +3.0%; Surplus AUD11.2 Bln

RBA

ACGB Purchase Offer Details

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China should maintain general fiscal and monetary expansion policies to stabilise growth amid a slowing economic recovery, according to an article written by Liu Yuanchun, vice president of Renmin University posted by Toutiao.com. China may have normalized its macroeconomic policies too early as it spent two quarters in the first half of this year focused on growth rates of fiscal spending and credit back to normal levels, said Liu. Meanwhile, investment faces a period of interruption due to a lack of projects and local governments' declining off-budget funds to promote investment given shrinking land sales amid a cooling housing market, Liu added.