"Asia Markets Rally on Wall Street's Boost; Australia Inflation Softens"
Asia-Pacific markets mostly rise, following Wall Street's tech rally. Australia's inflation rate for July softens to 4.9%, lower than June's 5.4%. Chinese property firm Country Garden plans to issue new shares to repay loans. Nio's Hong Kong-listed shares plunge 8.3% after posting a wider net loss in Q2. Chinese state-owned banks may soon lower interest rates on existing mortgages. Morgan Stanley's Andrew Slimmon predicts S&P 500 will reach 5,000 by year-end. Costco in China sees higher foot traffic compared to the US. UBS warns of a potential "bear trap" in Chinese stocks. The US Dollar reaches its highest level against the Yen in 2023. S&P 500, Nasdaq, and Dow trade above their 50-day moving averages. US Treasury yields decline ahead of key economic data releases. Apple sends invites for September 12 launch event, expected to announce iPhone 15 and new Apple Watches.