Highlights Indian stocks need more time to digest and consolidate the significant gains from earlier this year. However, the country’s medium and long-term growth outlook remains positive. Indian firms’ profit margins…
Dear Clients, Next week, in addition to sending you the China Macro And Market Review, we will be presenting our 2022 outlook on China at our last webcasts of the year “China 2021 Key Views: A Challenging Balancing Act”.…
China’s trade surplus eased to $71.7 billion in November, below expectations that it would remain broadly unchanged following October’s record $84.5 billion. The narrower trade balance reflects both an acceleration in…
The world’s two largest economies are diverging on monetary policy. The Fed is starting to normalize policy by tapering its asset purchases and preparing to hike interest rates next year. Meanwhile, the PBoC is easing…
The PBoC’s decision to cut the reserve requirement ratio by 50 bps is unlikely to be a game changer for the Chinese economy. The more important drivers of China’s business cycle and financial markets are credit growth…
Chinese authorities are taking steps to limit foreign listings of Chinese companies. According to media reports, Beijing is planning to ban companies from using the variable interest entities structure – a loophole used by…
According to China’s National Bureau of Statistics, Chinese economic activity accelerated in November. The composite PMI increased by 1.4 percentage points to 52.2. This improvement reflects the manufacturing PMI’s…
Chinese industrial profit growth accelerated to 24.6% y/y in October from the prior month’s 16.3% y/y. This brings the year-to-date increase in profits to 42.2% y/y for the first 10 months of the 2021. Higher commodity…
Indonesia’s domestic demand is struggling to recover in the face of a very tight policy setting. Domestic consumption and consumer confidence are languishing well below pre-pandemic levels. Real borrowing costs for the…