CN Datanote: PPI, China, March

In one line: China ends 41-month of PPI deflation as war-driven energy spike lifts prices

CN Datanote: PPI, China, April

In one line: China’s PPI jumps on energy shock as war-driven reflation accelerates

CN Datanote: CPI, China, April

In one line: China’s CPI surprises to the upside as energy inflation accelerates in April

CN Datanote: Exports, China, April

In one line: China trade surplus rebounds as tech demand outweighs war-driven energy shock

CN Datanote: Foreign Reserves, China, April

In one line: China’s reverse jump in reserves reflects changes in market risk appetite

CN Datanote: RatingDog Services PMI, China, April

In one line: China’s RatingDog services PMI lifted by domestic demand on new product launches and innovation

CN Datanote: Whole Economy PMI, Hong Kong, April

In one line: Hong Kong PMI weakens as employment and domestic demand deteriorate amid war uncertainty

CHINA+ DATA WRAP 1 May 2026: Tokyo inflation subdued; Korea exports surging

In one line: Tokyo inflation subdued thanks to expanded childcare subsidies;
Korean exports buoyed by robust chip sales

CHINA+ DATA WRAP 30 April 2026: Manufacturing sector resilient to energy shock

In one line: China's manufacturing sector holds up well in April; Services slows after the holiday boost; Construction PMI drop is puzzling

1 May 2026 China+ Monitor China's April manufacturing PMIs hint at front-loading by exporters

• China’s manufacturing PMIs held up well in April, despite the disruption from the war in the Middle East.
• This resilience should continue in the near term, though exports are likely to slow as global demand fades.
• The weak construction PMI likely reflects bad weather; the infrastructure investment rebound should continue.

PM Datanote:Industrial Profits, China, March

In one line: Hi-tech and energy-related upstream sectors drive Chinese industrial profit growth higher in Q1

PM Datanote: National CPI, Japan, March

In one line: Japan National CPI firms on core goods and fading energy drag; BoJ likely to delay hike next week.

PM Datanote: Flash PMIs, Japan, April

In one line: Japan manufacturing boosted by precautionary front-loading amid supply shocks while services slow

PM Datanote: Exports, Japan, March

In one line: Japan exports rebound in March on post-LNY China demand; BoJ hike likely delayed to June after media leak

PM Datanote: 20-Day Exports, Korea, April

In one line: Korea exports still strong in early April, led by semiconductors.

PM Datanote: Loan Prime Rates, China, April

In one line: China’s LPR steady in April amid NIM pressure

CHINA+ DATA WRAP 28 April 2026: BoJ on hold

In one line: BoJ on hold, but Governor Ueda's lack of clear policy signalling leaves JPY exposed

29 April 2026 China+ Monitor Governor Ueda's attempt to 'thread the needle' leaves currency exposed

• The BoJ held the policy rate steady at 0.75% yesterday, amid uncertainty in the Middle East.
• Governor Ueda’s mixed message on policy direction could invite speculation on USDJPY.
• We think a June rate hike is still on the table, as long as prospects for a lasting ceasefire have improved by then.

28 April 2026 China+ Monitor Q1 industrial profits extend strong gains, led by high-tech and energy

• China’s industrial profits rose in Q1 on lower costs and higher revenues from precautionary front-loading.
• Producer reflation supported the rise, but was more evident in metals and upstream energy sectors.
• Profit growth will face pressure from war-related costs, fading front-loading and weak domestic demand.

21 April 2026 China+ Monitor China rates steady on NIM pressure; ample liquidity cushioning growth

• China’s LPRs and de-facto policy rate were unchanged in April, amid pressure on banks’ margins.
• Banks started a new round of deposit-rate cuts, given the liquidity glut in the system from weak loan demand.
• The MoF is offering ultra-long special bonds at record levels, taking advantage of the risk-averse mood.