China+ Datanote: Industrial Profits, China, December

China's industrial profits continue to improve in December

Kelvin Lam (Senior China+ Economist)China+

CHINA+ DATA WRAP 26 JANUARY 2024

Japan's Tokyo CPI Surprised on the Downside, Coming in Lowest in 22 Months

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: BoK Policy Decision, Korea, January

The BoK keeps rates unchanged, hinting at easing

Kelvin Lam (Senior China+ Economist)China+

CHINA+ DATA WRAP 5 JANUARY 2024

Japan's Services PMI Reports Higher Domestic Demand in December

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Exports, Korea, December

Korean exports rise sharply on a WDA basis

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Caixin Manufacturing PMI, China, December

The volatile Caixin PMI is more optimistic than the official measure again

Kelvin Lam (Senior China+ Economist)China+

CHINA+ DATA WRAP 2 JANUARY 2024

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+

3 January 2024 China+ Monitor Chinese Manufacturing Activity Continues to Flounder

• 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+

China+ Datanote: National CPI, Japan, November

Japan’s inflation slows in November, thanks to easing food and core prices

Kelvin Lam (Senior China+ Economist)China+

CHINA+ DATA WRAP 22 DECEMBER 2023

Japan National CPI slows sharply in November as cost-push factors ease

Kelvin Lam (Senior China+ Economist)China+

22 December 2023 China+ Monitor Lumpy Exports of Vessels and Chips Drive Korean Shipments Higher

• 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+

China+ Datanote: 20-Day Exports, Korea, December

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+

CHINA+ DATA WRAP 21 DECEMBER 2023

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+

21 December 2023 China+ Monitor China Keeps Lending Rates Steady, As Fiscal Policy Is in the Driver's Seat

• 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+ Datanote: PBoC Policy Decision, China, December

China keeps lending rates steady

Kelvin Lam (Senior China+ Economist)China+

CHINA+ DATA WRAP 20 DECEMBER 2023

China keeps lending rates steady; Japan's exports shrink for the first time in 3 months

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote : FX Reserves, China, November

• 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+

China+ Datanote: BoK Policy Decision, Korea, November

The BoK keeps rates on hold

Kelvin Lam (Senior China+ Economist)China+

30 November 2023 China+ Monitor China's Industrial Profits Improve for the Third Straight Month

• 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+

CHINA+ DATA WRAP 27 NOVEMBER 2023

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+