Chinese macro data releases for August surprised to the downside and indicate that the domestic economic slowdown is ongoing. Most notably, retail sales decelerated sharply to 2.5% y/y, significantly slower than the expected 7.0…
BCA Research's China Investment Strategy service recommends a new trade: long Chinese industrial stocks/short A-shares. Chinese onshore stocks in the infrastructure, materials, and industrial sectors recently advanced…
Dear Client, Next week, in lieu of our regular weekly report, I will be hosting two webcasts where I will discuss our view on China’s economy and financial markets. I will also address the topics that our clients are most concerned…
Over the weekend, North Korean state media reported that Pyongyang successfully tested two new long-range cruise missiles. The range attributed to these missiles gives North Korea the ability to target US military bases in South…
As expected, Chinese credit numbers for August improved relative to July. Aggregate financing increased CNY 2.96 trillion from July's CNY 1.08 trillion and was slightly above consensus estimates of CNY 2.80 trillion. New bank…
Given that Chinese credit has a lagged impact on domestic activity (see The Numbers), China's economy is unlikely to bottom before the end of Q1 2022. In addition to the economic slowdown, regulatory pressures also pose risks…
The gap between Chinese producer prices and consumer prices widened to a 31-year high in August. CPI inflation slowed to 0.8% y/y and fell below expectations it would remain unchanged at July's 1.0%. Meanwhile, PPI…
BCA Research's Emerging Market Strategy service concludes that the Indian bourse's structurally high premium relative to EM will likely continue. With a trailing P/E of 31, and P/Book of 3.9, there is no doubt that…
Highlights The US Climate Prediction Center gives ~ 70% odds another La Niña will form in the August – October interval and will continue through winter 2021-22. This will be a second-year La Niña if it forms, and…
9 September 2021 at 10:00 EDT Emerging Markets Strategy/Webcast EM/China: See The Forest For The Trees 9 September 2021 at 21:00 EDT Emerging Markets Strategy/Webcast Emerging Asia: See The Forest For The Trees Highlights…