- China’s property market is still in the doldrums; prices and transactions are falling at pace.
- The secondary market is suffering bigger price falls due to higher inventory levels and consumer choice.
- The impact of re-lending facilities will not be felt immediately due to implementation problems.
Kelvin Lam (Senior China+ Economist)China+
- - CHINA’S ACTIVITY TICKING OVER ENOUGH
- - BOJ SIGNALS BOND BUYING TO SLOW
- - STRONG EXPORTS ALLOW BOK’S MORE HAWKISH STANCE
Kelvin Lam (Senior China+ Economist)China+
In one line: China’s loan prime rates left unchanged in June amid record low NIMs for banks
Kelvin Lam (Senior China+ Economist)China+
China’s loan prime rates left unchanged in June amid record low NIMs for banks
Kelvin Lam (Senior China+ Economist)China+
In one line: The BoJ will reveal detailed plans for bond tapering in July’s meeting.
Kelvin Lam (Senior China+ Economist)China+
In one line: The BoJ will reveal detailed plans for bond tapering in July’s meeting.
Kelvin Lam (Senior China+ Economist)China+
In one line: Producer price reflation hastens in May
Kelvin Lam (Senior China+ Economist)China+
In one line: China's CPI print points to sluggish domestic demand; Producer price reflation hastens in May
Kelvin Lam (Senior China+ Economist)China+
- China’s CPI inflation was unchanged, as slowing core inflation was offset by firming food prices.
- Producer deflation eased sharply on faster upstream reflation, which bodes well for industrial profitability.
- More stimulus will be needed to kick-start domestic demand; we reiterate our call for an MLF cut in June.
Kelvin Lam (Senior China+ Economist)China+
In one line: China’s FX reserves rebounded in May, driven mainly by valuation effect of exchange rate
Kelvin Lam (Senior China+ Economist)China+
- In one line: Japan's regular pay growth quickened to 30-year high
Kelvin Lam (Senior China+ Economist)China+
In one line: Japan's regular pay growth quickened to 30-year high
Kelvin Lam (Senior China+ Economist)China+
- Japan’s nominal wage growth rose in May as the ShuntÅÂÂ wage settlements started filtering through.
- That said, we don’t expect a significant broadening of wage growth across sectors and to SME workers.
- Stronger base-pay rises will please the BoJ, but the key is whether this translates into higher spending.
Kelvin Lam (Senior China+ Economist)China+
In one line: Korea’s export recovery continues, led by strong ICT demand and lumpy ship exports
Kelvin Lam (Senior China+ Economist)China+
In one line: China's NBS PMIs surprised to the downside
Kelvin Lam (Senior China+ Economist)China+
Manufacturing activities flounder in May on weakening domestic and external demand
Non-manufacturing PMI stalls as construction activity slow sharply
Japan’s Tokyo inflation accelerates on the back of expiring energy subsidies
Kelvin Lam (Senior China+ Economist)China+
April's industrial profits show slower recovery due to protracted reflation cycle
Kelvin Lam (Senior China+ Economist)China+
- The US has proposed new tariffs on Chinese imports, which will have limited impact, in our view.
- Lithium batteries likely will be most affected, among other items targeted, with the US more exposed to it.
- China’s manufacturing activity shrank unexpectedly in May, suggesting more stimulus might be needed.
Kelvin Lam (Senior China+ Economist)China+
- China’s industrial profit growth was unchanged in April; the recovery is weaker than previously thought.
- A slowing reflation cycle is to blame, but also excess capacity and rising input costs.
- Manufacturing profits remain solid, but expect more policy support for the economic recovery.
Kelvin Lam (Senior China+ Economist)China+
In one line: The Bank of Korea stands pat in May, citing upside risks to inflation
Kelvin Lam (Senior China+ Economist)China+
