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Below is a list of our Emerging Asia Publications for the last 6 months. If you are looking for reports older than 6 months please email info@pantheonmacro.com, or contact your account rep

Please use the filters on the right to search for a specific date or topic.

28 June 2024 Emerging Asia Monitor BSP sets the stage and readies markets for its first cut

  • The BSP’s rate hold yesterday was very dovish, and its rhetoric signals an August cut more clearly.
  • The Board has taken the opportunity offered by the rice-tariff cut to recalibrate its cautious CPI bias…
  • …Its risk-adjusted CPI forecasts are now snugly within the target range; GDP is back on the agenda.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

June 2024 - Emerging Asia Chartbook

THE ‘REAL’ ECONOMY WHICH LET DOWN MODI’S BJP

  • …NOTE THE NUANCE IN MALAYSIA’S DIESEL-SUBSIDY REFORM

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

26 June 2024 Emerging Asia Monitor Indirect effects from Malaysia's subsidy removal should be limited

  • Malaysian headline inflation picked up in May due to a sharp rise in the price of streaming services…
  • …It will rise further in June, as the lift from the diesel-subsidy removal shows up in the data.
  • Labour-market tightness also looks set to stoke inflation, changes to administered prices aside.

Moorthy Krshnan (Senior Asia Economist)Emerging Asia

25 June 2024 Emerging Asia Monitor Forget COE premiums and focus on services in Singaporean CPI

  • Headline inflation in Singapore rose in May, as higher COE prices pushed up transport inflation…
  • …But the real story is core inflation staying at 3.1% for a third straight month, due to sticky services.
  • The Taiwanese retail outlook looks weak for now, but the likelihood of stronger wage growth has risen.

Moorthy Krshnan (Senior Asia Economist)Emerging Asia

EM Asia Datanote: Retail Sales, Taiwan, May

  • In one line: Weakness in consumer demand remains, despite improvement in headline.

Moorthy Krshnan (Senior Asia Economist)Emerging Asia

PANTHEON EM ASIA DATA WRAP 24 June 2024

Core inflation in Singapore remains unchanged in May, despite headline rise

Moorthy Krshnan (Senior Asia Economist)Emerging Asia

EM Asia Datanote: Customs Trade, Thailand, May

  • In one line: A not-so-emphatic return to the black, once adjusted for seasonality.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

PANTHEON EM ASIA DATA WRAP 21 June 2024

A decent end to Q2 for India's sky-high, if questionable, PMIs

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

24 June 2024 Emerging Asia Monitor Here's the real story underlying India's still-lofty PMIs for Q2

  • India’s sky-high PMIs were mixed in Q2; services lost steam, but manufacturing hit new heights…
  • …The year- over-year story is soft, though, with both gauges combined pointing to sub -6% GDP growth.
  • Hiring has supposedly gone up a level in recent months, but the hard data tell a very different story.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

EM Asia Datanote: Bank Indonesia Decision

  • In one line: A non-event; expect more of the same through Q3.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

PANTHEON EM ASIA DATA WRAP 20 June 2024

Export growth surprises to the upside, as electronics roar ahead 

Moorthy Krshnan (Senior Asia Economist)Emerging Asia

21 June 2024 Emerging Asia Monitor Electronics recovery supports Malaysian export growth in May

  • Malaysia’s export growth surprised to the upside in May, thanks to a sharp rise in electronics exports…
  • …This more than compensated for a fall in commodity exports and a drag from re-exports.
  • Adverse base effects aside, electronics exports still has more fuel in the tank for a further recovery.

Moorthy Krshnan (Senior Asia Economist)Emerging Asia

20 June 2024 Emerging Asia Monitor Solid May for Indonesian exports, but still potholes in the road ahead

  • The 2024 volatility in Indonesian exports continued in May, this time resulting in a hefty bounce-back…
  • …The overall trend is still range-bound though, and China’s uneven recovery continues to pose a risk.
  • We have upgraded our current account forecast, with real import demand deteriorating further.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

PANTHEON EM ASIA DATA WRAP 18 June 2024

Semiconductor export growth makes an impressive recovery in Singapore

Moorthy Krshnan (Senior Asia Economist)Emerging Asia

19 June 2024 Emerging Asia Monitor A reprieve for Singapore's long-suffering semiconductor sector

  • It’s not often that a growth figure of -0.1% brings joy, but it did in the case of Singapore’s May exports...
  • ...We found much to celebrate, as semiconductor exports are finally showing signs of life.
  • We still expect the recovery in exports to be gradual but now see stronger signs of its likely durability.

Moorthy Krshnan (Senior Asia Economist)Emerging Asia

EM Asia Datanote: Trade, India, May

  • In one line: Deficit hit by lagged oil-price effects, which will now unwind.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

EM Asia Datanote: WPI, India, May

  • In one line: Upstream core price pressures are now clearly reviving.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

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