Pantheon Publications

EM Asia Datanote: Trade, Taiwan, February

• In one line: AI server growth moderating.

EM Asia Datanote: CPI, Taiwan, February

• In one line: Lunar New Year distortions.

EM Asia Datanote: Retail Sales, Taiwan, January 2026

• In one line: Spending on big items is failing to recover.  

EM Asia Datanote: Bank Negara Malaysia Decision, March 2026

• In one line: Members hold rates, but seem spooked by the Middle East crisis. 

PANTHEON EM ASIA DATA WRAP 5 March 2026

Don’t read too much into the Lunar New Year noise in Singapore’s January sales
Returning food inflation drives Philippine inflation up higher; BSP target still safe

25 February 2026 Emerging Asia Monitor Malaysian electronics exports still booming, thanks to AI demand

• Malaysian exports continue to defy expectations, soaring by 19.6% in January, due to the AI boom…
• …CPI inflation remains elevated, but only because of a sewerage cost increase that affected housing.
• Singaporean core inflation showed a surprise seasonally adjusted month-to-month decline.

10 February 2026 Emerging Asia Monitor Taiwan's export growth reaches the highest print since the 1970s

• Taiwan’s exports soared by 69.9% in January, with AI demand still overwhelming supply…
• ...though base effects, Lunar New Year distortion and less front-loading point to cooling ahead.
• AI demand could soften near term, due to lack of data centre readiness and delayed deployment.

EM Asia Datanote: Trade, Taiwan, January 2026

• In one line: Export growth surge never seems to stop.

EM Asia Datanote: CPI, Taiwan, January 2026

• In one line: Big disinflation surprise, due to Lunar New Year noise.

3 February 2026 Emerging Asia Monitor Taiwan Q4 GDP hits a 21st-century high; our call was spot on

• Taiwan’s Q4 GDP growth surged to a blockbuster 12.7%, above the unjustifiable 8.8% consensus...
• …Exports did the heavy lifting, though even we were taken aback by the rebound in consumption.
• The MAS held policy steady; we see little need for tightening with imported inflation still non-existent.

EM Asia Datanote: Retail Sales, Taiwan, December 2025

• In one line: Can’t catch a break.

Global Datanote: Bank Negara Malaysia Decision, January 2026

• In one line: Another no-move meeting, with optimism building.

23 January 2026 Emerging Asia Monitor Q4 GDP, the latest export data and disinflation lift BNM's spirits

• BNM held the OPR at 2.75% yesterday, in line with expectations, prolonging its ongoing pause.
• For now, AI-driven export strength should continue, meaning no rate cuts in 2026.
• Subdued inflation should leave the door open to a rate cut in the event of an economic shock.

EM Asia Datanote: Bank Negara Malaysia Decision, January 2026

• In one line: Another no-move meeting, with optimism building.

21 January 2026 Emerging Asia Monitor AI boom continues to boost Malaysia's electronics exports

• Malaysian exports blew past expectations in December; analysts underestimated the AI boom...
• …We have upgraded our 2026 GDP forecast, as we think AI demand will remain firm for some time.
• Malaysia’s inflation ticked up in December, but we consider this a one-off not a re-acceleration.

PANTHEON EM ASIA DATA WRAP 20 January 2026

AI boom saves Malaysian exports 
Malaysian inflation shows a surprise rise

19 January 2026 Emerging Asia Monitor Malaysian Q4 GDP surprises to the upside, thanks again to the AI boom

• Malaysia’s Q4 GDP growth beat expectations, at 5.7%, largely because of export manufacturing...
• …This bolsters our call for the BNM to hold rates this Thursday, saving policy space for later.
• We think economic growth should be stronger in 2026, but this is contingent on the AI boom.

EM Asia Datanote: Trade, Taiwan, December 2025

• In one line: Export growth eases, but Q4 GDP remains on track for a millennia-high.

PANTHEON EM ASIA DATA WRAP 9 January 2026

Sales growth in Malaysia dips