Market Discussion / View from Japan / CEO: Cyberport and E-sports / IPO Technology Board

China's GDP slowed to 6.2% y/y as expected in the second quarter. That’s the slowest rate of quarterly economic growth in 27 years. Other economic data released from the mainland gave rise to optimism that China’s economy may be stabilising, with both industrial output and retail sales rising more than expected last month. 

Average home prices on the mainland rose for the 60th straight month in June, but the pace of price appreciation slowed from 0.71% in May to 0.62% in June. Out of 70 top-tier cities, 63 saw new home prices rise m/m in June, down from 67 in May.

In Taiwan, Han Kuo-yu, the mayor of the island’s second largest city, Kaohsiung, has won the opposition Kuomintang’s presidential primaries. He will face off against incumbent Tsai Ing-wen in next January’s elections, after beating Terry Gou, the founder of electronics group Foxconn. Mr. Gou will decide in the next few days whether to stand as an independent candidate.

US Treasury Secretary Steven Mnuchin said Facebook has a lot of work to do before it can launch its planned cryptocurrency Libra. He said he was concerned that Libra could be misused to launder money and finance terrorism and he wanted to see more details before allowing it to go ahead, noting that Facebook was "a long way away" from reassuring him.

On today’s Money Talk are Connie Bolland of Economic Research Analysis and Mark To from the Wing Fung Financial Group. Providing the view from Japan is Marcel Thieliant at Capital Economics. In the second half of the programme, Peter Yan, Chief Executive Officer of Hong Kong Cyberport tells us about the all-new esports spectator venue, which will be inaugurated later today at the Cyberport. We’ll also talk about IPOs on the mainland and the launch of the new technology innovation board, with Ringo Choi, Asia-Pacific IPO Leader at Ernst & Young.