China's robust May export growth largely propelled by shipments to ASEAN
Duncan WrigleyChina+
- In one line: Japan's regular pay growth quickened to 30-year high
Kelvin Lam (Senior China+ Economist)China+
In one line: Japan's regular pay growth quickened to 30-year high
Kelvin Lam (Senior China+ Economist)China+
- The May Caixin services activity index hit its highest level for almost a year, thanks to holiday spending.
- Consumers are mostly opting for cheaper products, but this is starting to change as the recovery firms.
- Restrained services inflation is likely to continue, given the cautious optimism about future demand.
Kelvin Lam (Senior China+ Economist)China+
- Japan’s nominal wage growth rose in May as the ShuntÅÂÂ wage settlements started filtering through.
- That said, we don’t expect a significant broadening of wage growth across sectors and to SME workers.
- Stronger base-pay rises will please the BoJ, but the key is whether this translates into higher spending.
Kelvin Lam (Senior China+ Economist)China+
In one line: Korea’s export recovery continues, led by strong ICT demand and lumpy ship exports
Kelvin Lam (Senior China+ Economist)China+
- China’s May manufacturing PMIs sent mixed signals, reflecting the uneven recovery.
- Production continues to power ahead of demand, which 60% of manufacturers view as “insufficient”.
- Stimulus funds have yet to boost construction, but steelmakers are optimistic about the year ahead.
Kelvin Lam (Senior China+ Economist)China+
- - CHINA GETS SERIOUS ABOUT PROPERTY SECTOR SUPPORT
- - BOJ CAUGHT BETWEEN A ROCK AND A HARD PLACE
- - BOK LIKELY TO DELAY RATE RISE AMID EXPORT BOOM
Duncan WrigleyChina+
Caixin Manufacturing PMI, China, May
Duncan WrigleyChina+
China's Caixin PMI rises, thanks to robust consumer goods output
Korean manufacturing PMI hits a two-year high
Duncan WrigleyChina+
In one line: China's NBS PMIs surprised to the downside
Kelvin Lam (Senior China+ Economist)China+
Manufacturing activities flounder in May on weakening domestic and external demand
Non-manufacturing PMI stalls as construction activity slow sharply
Japan’s Tokyo inflation accelerates on the back of expiring energy subsidies
Kelvin Lam (Senior China+ Economist)China+
April's industrial profits show slower recovery due to protracted reflation cycle
Kelvin Lam (Senior China+ Economist)China+
- The US has proposed new tariffs on Chinese imports, which will have limited impact, in our view.
- Lithium batteries likely will be most affected, among other items targeted, with the US more exposed to it.
- China’s manufacturing activity shrank unexpectedly in May, suggesting more stimulus might be needed.
Kelvin Lam (Senior China+ Economist)China+
- China’s new property-market measures aim to stabilise the sector, rather than return to the boom times.
- The focus on housing-inventory reduction is the right direction, but the funding so far is too small.
- First-tier cities will probably bottom out first, but overall a drawn-out rebound is still on the cards.
Duncan WrigleyChina+
- China’s industrial profit growth was unchanged in April; the recovery is weaker than previously thought.
- A slowing reflation cycle is to blame, but also excess capacity and rising input costs.
- Manufacturing profits remain solid, but expect more policy support for the economic recovery.
Kelvin Lam (Senior China+ Economist)China+
- Japan’s consumer inflation continued to slow in April, with a notable cooling in food inflation.
- The phased removal of energy subsidies, then higher import costs, will lift inflation in the rest of the year.
- Japan is still far from seeing sustained inflation based on consumption growth; no rate hike until Q4.
Duncan WrigleyChina+
Japan’s consumer inflation still cooling, as the BoJ monitors wage inflation and the impact of the weak JPY
Duncan WrigleyChina+
In one line: The Bank of Korea stands pat in May, citing upside risks to inflation
Kelvin Lam (Senior China+ Economist)China+
In one line: Japan’s manufacturing activity expands for the first time in a year, largely driven by improvements in output and new orders.
Kelvin Lam (Senior China+ Economist)China+
