Investment Daily Note

Market Highlights

Housing starts of the United States increased by 0.2% year-on-year during July at an annualized rate of 1.21 million, which is an eight-year high. At the same time, the market is focused on the July FOMC minutes to be released early tomorrow morning (HK Time) to see any hint on a rate hike in September.

Xinhua News Agency reported that the Chinese national foreign exchange reserve has finished replenishing capital of China Development Bank and the Export-Import Bank of China by injecting US$48 billion and US$45 billion into these two banks respectively, which could help Chineseenterprises' development abroad and in turn support economic growth.