In one line: China's industrial profit growth sees sharpest fall in 18 months; Japan's Tokyo CPI dips as energy subsidies reinstated
Kelvin Lam (Senior China+ Economist)China+
In one line: Korea 20-day export growth remained resilient on a WDA basis
Kelvin Lam (Senior China+ Economist)China+
In one line: Korea 20-day export growth remained resilient on a WDA basis
Kelvin Lam (Senior China+ Economist)China+
Weaker car shipments and US demand drag Japan’s exports in August.
Kelvin Lam (Senior China+ Economist)China+
Weaker car shipments and US demand drag Japan’s exports in August.
Kelvin Lam (Senior China+ Economist)China+
- China’s consumer prices are on the brink of deflation while producer price deflation is deepening.
- September’s core inflation slowed to just above zero percent, suggesting muted domestic demand.
- Efficient implementation of existing stimulus should support growth, but more fiscal stimulus is needed.
Kelvin Lam (Senior China+ Economist)China+
- China’s National Day holiday saw only a modest tourism-sector boost, despite the jump in stocks.
- Consumers have more wealth tied up in property, whose outlook is still murky.
- The NDRC yesterday focused on better implementation of existing fiscal support.
Kelvin Lam (Senior China+ Economist)China+
- China’s FX reserves rose more than expected in September as the Fed started cutting interest rates.
- Foreign equity flows have likely improved, as China announced support measures at end-September.
- Looking ahead, a weaker dollar and further Fed cuts should bode well for China’s valuation effect.
Kelvin Lam (Senior China+ Economist)China+
- China's manufacturing PMIs point to shrinking activity, while the service sector continues to slow.
- Construction seems to be stabilising; we expect a stimulus impact soon, on faster bond issuance.
- Measures announced should lift short-term growth, but expect more monetary and fiscal support in Q4.
Kelvin Lam (Senior China+ Economist)China+
- The sharp slowdown in unadjusted 20-day Korean export data masks the underlying strength.
- China’s slowing growth and heightened geopolitics remain key risks to Korea’s export recovery.
- We reiterate our call for an October BoK rate cut, or maybe November if financial stability worries persist.
Kelvin Lam (Senior China+ Economist)China+
- -CHINA TOUGHING IT OUT, HELPED BY RESILIENT EXPORTS
- - BOJ INSISTS ON ITS READINESS TO RAISE RATES
- - BOK COULD DELAY RATE CUT, ON HOUSING DEBT WORRIES
Kelvin Lam (Senior China+ Economist)China+
In one line: China's exports buoyed by strong BRICS and EU demand
Kelvin Lam (Senior China+ Economist)China+
In one line: China's exports buoyed by strong BRICS and EU demand
Kelvin Lam (Senior China+ Economist)China+
In one line: China’s foreign reserves climb in August amid weakening dollar and falling treasury yields
Kelvin Lam (Senior China+ Economist)China+
- China’s exports surprised to the upside, thanks to a surge in EU and BRICS shipments and car demand.
- Imports imploded, reflecting rapidly deteriorating domestic demand; more stimulus is needed.
- Foreign exchange reserves rose in August due to a higher valuation effect on currency and bond assets.
Kelvin Lam (Senior China+ Economist)China+
In one line: Korea’s exports rebound on a WDA basis despite slowing headline growth in August.
Kelvin Lam (Senior China+ Economist)China+
In one line: China’s services sector rebounds after July’s bad weather, while construction index continues to dive.
Kelvin Lam (Senior China+ Economist)China+
In one line: China's manufacturing sector hit by rapidly weakening demand in August
Kelvin Lam (Senior China+ Economist)China+
In one line: Tokyo consumer inflation surprises on the upside, backing BoJ’s decision to hike.
Kelvin Lam (Senior China+ Economist)China+
Stagnant profit growth amid China's sluggish demand and ample capacity
China’s MLF rate was unchanged as expected
Kelvin Lam (Senior China+ Economist)China+
