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ASIA: China's producer inflation for March was higher than expected. The producer price index surged 8.3% as compared with a year ago, official data showed Monday, above expectations for a 7.9% increase in a Reuters poll. Chinese consumer inflation also rose more than expected in March, with the consumer price index climbing 1.5% year-on-year. That

Spread the lovemore ASIA: India has signed contracts to export about 500,000 tonnes of wheat in recent days, traders said, cashing in on a sharp rally in international prices and signaling a big uptick in overseas sales from the world’s second biggest producer of the grain. Traders said last week they had received inquiries from […]

Spread the lovemore ASIA: A prolonged slowdown in China’s economic growth could hurt some multinational companies and commodity producers for years to come, casting a shadow over the global recovery from the pandemic—but likely not derailing it entirely. Sputtering momentum in China’s economy—which accounts for about 15% of global trade and a quarter of projected global […]

Spread the lovemore ASIA: Goldman Sachs cut its 2022 forecast for China economic growth Tuesday in expectation of increased restrictions on business activity aimed at containing the omicron Covid variant. Consumption will likely be affected the most, while exports less so, the analysts said, as they assume limited disruptions to supply chains. They expect government policy […]

Spread the lovemore ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 135.15 points or -0.47% to 28,725.47 Shanghai increased 35.47 or 0.98% to 3,673.04 Hang Seng increased 257.99 points or 1.08% to 24,254.86 ASX 200 decreased 20.90 points or -0.28 to 7,384.50 Kospi increased 27.77 points or 0.93% […]

ASIA: Goldman Sachs has cut China's growth forecast to 7.8 percent this year from the previously estimated 8.2 percent as the world's second largest economy

Spread the love ASIA: China has denounced a US Senate bill worth approximately $250bn that aims to boost American technology and manufacturing prowess as an example of the US hyping up “the so-called China threat,” and accused Washington of attempting to hinder its development. The Senate on Tuesday overwhelmingly approved the Innovation and Competition Act. The expansive legislation, passed by 68-32 votes, combines various China-related measures into what analysts have called the biggest p...

Spread the love ASIA: China’s factories slowed their output growth in April and retail sales significantly missed expectations as officials warned of new problems affecting the recovery in the world’s second-largest economy. Factory output grew 9.8% in April from a year ago, in line with forecasts but slower than the 14.1% surge in March, National Bureau of Statistics data showed on Monday. Retail sales, meanwhile, rose 17.7%, much weaker than a forecast 24.9% uptick and the 34.2% surge in ...

2/12/2021 3:40:21 PM GMT USD/JPY retreats below 105, finds support at 104.55, recovers. Chairman Powell: The US labor market remains weak. Chairman Powell: Fed has no plans for rate increases or bond program reductions. US Treasury rates move higher after Wednesday low. FXStreet Forecast Poll sees no immediate increase in USD/JPY. The USD/JPY reneged on its breakout promise this week dropping below 105 on Tuesday but support at 104.55 held on Thursday. The descending channel is increasingly d...

Spread the love ASIA: China posted its biggest daily jump in COVID-19 cases in more than five months on Wednesday, stepping up containment measures that have seen four cities put under lockdown, as the world’s second-biggest economy scrambles to head off a new wave of infections. Most of the new cases were reported near the capital, Beijing, but a province in the far northeast also saw a rise in infections, official data showed, amid a resurgence that has seen more than 28 million people put ...