Industrial metals have been rallying in recent weeks. The London Metals Exchange Metals Index (LMEX) – a weighted index that captures the price movement of primary aluminum, zinc, nickel, lead, copper, and tin – has…
Taiwanese export orders continue to signal that global manufacturing conditions remain weak. Orders declined by -17.6% y/y in May – albeit not as bad as the -21.3% y/y drop anticipated. The product breakdown reveals that…
According to BCA Research’s China Investment Strategy service, a sustainable recovery in Chinese property construction is unlikely. The deterioration in China’s property market indicators worsened in May. Home…
China is facing a risk of deflation. Marginal interest rate cuts and targeted stimulus will be insufficient to boost China’s growth given the current deflationary mindset and the danger is that the economy may be entering a liquidity…
Singapore’s exports have historically acted as a good gauge for the health of the global economy. As a small open economy that is extremely exposed to fluctuations in the Asian and global manufacturing cycles, Singapore…
China’s economic data releases for May fell below consensus estimates. The 7.2% y/y contraction in property investment in the first five months of the year was worse than the expected 6.7% decline. The deceleration in…
The normalization of oil storage markets in the Northern Hemisphere; strong demand, aided by China stimulus this year; and continued production discipline supports our view Brent prices likely have bottomed, and will move higher from…
Malaysian central bank raised policy rates last month. What will it do to Malaysian bank stocks and the overall share market? How about fixed income market?
Policymakers will likely continue to stimulate domestic demand via targeted measures and piecemeal stimulus. Yet, the economy will disappoint unless Beijing provides “irrigation-style” stimulus. The latter is not our base case…