China's industrial profits continue to improve in December
Kelvin Lam (Senior China+ Economist)China+
Japan's Tokyo CPI Surprised on the Downside, Coming in Lowest in 22 Months
Kelvin Lam (Senior China+ Economist)China+
The BoK keeps rates unchanged, hinting at easing
Kelvin Lam (Senior China+ Economist)China+
Japan's Services PMI Reports Higher Domestic Demand in December
Kelvin Lam (Senior China+ Economist)China+
Korean exports rise sharply on a WDA basis
Kelvin Lam (Senior China+ Economist)China+
The volatile Caixin PMI is more optimistic than the official measure again
Kelvin Lam (Senior China+ Economist)China+
The volatile Caixin PMI is more optimistic than the official measure again
Korea’s manufacturing activities steady in December
Korean export growth accelerates on a WDA basis
Kelvin Lam (Senior China+ Economist)China+
- December’s NBS manufacturing PMI fell for a third straight month, to the weakest level since June.
- The divergence between the official and the Caixin measures continues, especially on export orders.
- The government will rely more on fiscal policy in 2024. The PSL deployment is a quasi-fiscal example.
Kelvin Lam (Senior China+ Economist)China+
Japan’s inflation slows in November, thanks to easing food and core prices
Kelvin Lam (Senior China+ Economist)China+
Japan National CPI slows sharply in November as cost-push factors ease
Kelvin Lam (Senior China+ Economist)China+
- Korea’s 20-day exports rose sharply in December on base effects, and jumps in vessel and chip exports.
- Exports to China and Hong Kong continue to recover, while shipments to the EU tanked.
- Any improvement in Korea’s exports hinges on how sustained the ICT rebound and China’s recovery are.
Kelvin Lam (Senior China+ Economist)China+
Korean 20-day exports accelerate on the back of base effects and lumpy shipments of hi-tech vessels and semiconductors
Kelvin Lam (Senior China+ Economist)China+
Korean 20-day exports accelerate on the back of base effects and lumpy shipments of hi-tech vessels and semiconductors
Kelvin Lam (Senior China+ Economist)China+
- The PBoC kept one-and five-year LPRs steady in December, after standing pat on MLF rates earlier.
- Japan’s exports dipped back into negative growth in November following two months of expansion.
- Exports to the US and EU slowed significantly, while car exports continue to grow, albeit less strongly.
Kelvin Lam (Senior China+ Economist)China+
China keeps lending rates steady; Japan's exports shrink for the first time in 3 months
Kelvin Lam (Senior China+ Economist)China+
- China’s FX reserve jump reflects reduced capital outflow pressure, as the dollar weakens and U.S. yields fall
Kelvin Lam (Senior China+ Economist)China+
- October’s industrial profit recovery was slower than expected, due to base effects and rising costs.
- Fading reflation impetus from producer prices also contributed; manufacturing sector profits improved.
- While October’s data is more upbeat than the year- over-year data implies, the recovery remains bumpy.
Kelvin Lam (Senior China+ Economist)China+
The slower than expected improvement in industrial profits was likely due to base effects and faster rise in operating costs
Kelvin Lam (Senior China+ Economist)China+
