Markets Overview

  • ASX SPI 200 futures up 0.5% to 7,201.00
  • Dow Average up 0.3% to 32,915.36
  • Aussie up 0.1% to 0.6736 per US$
  • U.S. 10-year yield fell 2.6bps to 3.9199%
  • Australia 3-year bond yield rose 7 bps to 3.64%
  • Australia 10-year bond yield rose 5 bps to 3.87%
  • Gold spot up 0.4% to $1,817.41
  • Brent futures down 0.9% to $82.39/bbl

Economic Events

  • 11:00: (AU) Australia to Sell A$100 Million 0.75% 2027 Linkers
  • 11:30: (AU) Jan. Private Sector Credit YoY, prior 8.3%
  • 11:30: (AU) 4Q Net Exports of GDP, est. 1.3, prior -0.2
  • 11:30: (AU) Jan. Private Sector Credit MoM, est. 0.3%, prior 0.3%
  • 11:30: (AU) Jan. Retail Sales MoM, est. 1.5%, prior -3.9%
  • 11:30: (AU) 4Q BoP Current Account Balance, est. A$5.5b, prior -A$2.3b

US stocks ended Monday with modest gains after fluctuating for the final stretch of the trading session as investors attempted to come to terms with Federal Reserve policy that could remain restrictive for longer than previously expected.

The S&P 500 and the Nasdaq 100 bounced back after a dismal week for Wall Street. The 10-year Treasury yield declined to hover around 3.92%. A dollar index retreated. Gold and copper rose.

Other News

Chinese media regulators are studying measures to curb addiction among youths to short videos, the format popularized by tech giants from ByteDance Ltd. to Tencent Holdings Ltd.

The National Radio and Television Administration held a meeting Feb. 22 to consider ways to tighten oversight of the short video industry. The powerful agency called for the sector’s “healthy development” and improvements in content quality, without elaborating or naming companies. The key was to prevent minors from spending too much time on them, it said in a brief statement.

It’s unclear whether regulators will eventually move ahead with concrete measures, but Beijing has in past years prioritized measures to wean China’s youth off excessive gaming and other pursuits it considers harmful or undesirable. In 2021, the government abruptly limited gaming time to just three hours a week for children, a landmark regulation that hammered the bottom lines of companies including Tencent and NetEase Inc.

Short videos — the bite-sized segments of a few seconds that characterize services such as TikTok and its Chinese cousin Douyin — have in recent years exploded in popularity globally, particularly among teens. Their proliferation made ByteDance the world’s most valuable startup, spurred incumbent giants such as Meta Platforms Inc. and Tencent to adopt the format, and minted an entire economy of influencers, advertisers and merchants.

Beijing has since 2020 clamped down on other industries that gained widespread followings and amassed valuable personal data, including e-commerce, ride-hailing and online education. The government has consistently tried to curb the rising power of China’s internet titans, though in recent months Xi Jinping’s administration sent strong signals they were loosening the reins, in part because of the over-riding objective of reviving the world’s No. 2 economy.