China Economics Update More policy action needed to revive property sector Recent policy announcements have raised hopes that the property downturn may be coming to an end. But while the measures made public so far reduce some of the downside risks by giving developers and... 17th November 2022 · 4 mins read
Japan Data Response Japan External Trade (Oct. 2022) The trade deficit widened but stayed below the record high in August, but with the yen strengthening significantly in recent weeks, the deficit should narrow later this quarter. 17th November 2022 · 2 mins read
Asia Economics Update Malaysia: major challenges await new PM Malaysia heads to the polls on Saturday for a general election which, if the latest opinion polls are correct, will lead to a further period of unstable and fractured politics. This reduces the... 16th November 2022 · 5 mins read
RBNZ Watch Rates will peak at 5.0% but will be cut by end-2023 With the labour market and inflation going from strength to strength and the next meeting three months away, we expect the Reserve Bank of New Zealand to hike the overnight cash rate by 75bp at its... 16th November 2022 · 7 mins read
Japan Data Response Japan Machinery Orders (Sep. 2022) Weakness in the manufacturing sector led to “core” machinery orders falling for a second consecutive month in September. Worse still, machine tool orders indicate that the two-month losing streak... 16th November 2022 · 2 mins read
China Data Response China Activity & Spending (Oct.) The October data point to a further loss of momentum, with retail sales dropping sharply amid worsening virus outbreaks. November is shaping up to be even worse. With exports cooling, the property... 15th November 2022 · 3 mins read
Japan Data Response Japan GDP (Q3 2022 Preliminary) Japan’s economy contracted in Q3, with private consumption and business investment posting far weaker results than timelier data had suggested. Growth should turn positive in Q4, amid a rebound in... 15th November 2022 · 3 mins read
India Data Response Consumer & Wholesale Prices (Oct.) The substantial falls in both headline consumer and wholesale price inflation in October reinforce our view that the Reserve Bank will slow the pace of monetary tightening in its next scheduled policy... 14th November 2022 · 3 mins read
Asset Allocation Update Is China’s stock market relatively appealing? The news that the authorities in China plan to “optimise” their response to the pandemic while not abandoning their zero-COVID policy has coincided with a surge in its stock market. There is still a... 11th November 2022 · 6 mins read
Global Markets Update Yield curve control pressure may ease further We don’t expect the 10-year JGB yield to rise above the top of the Bank of Japan’s tolerance band, and think it may even fall back to the middle of that band next year as yields continue to decline... 11th November 2022 · 4 mins read
China Economics Weekly Lighter-touch version of zero-COVID is a gamble The easing of containment measures announced today is aimed at reducing the economic cost of the zero-COVID policy, not moving away from it. But it risks making it harder for local governments to keep... 11th November 2022 · 6 mins read
