Recent data from Asia’s manufacturing powerhouses reveal a surge in exports, suggesting that the global manufacturing recovery is alive and well, despite the current soft patch. Japanese exports rebounded to 2.0% y/y in…
The forthcoming third round of enormous US fiscal stimulus will likely mark a structural regime shift in global financial markets. Over the past 25 years, the chief concern of US and, hence, global financial markets, has been economic…
Over the past nine months, the strength in the CNY versus the USD has been a very important factor that has dampened global deflationary forces. The global economic recovery, the weakness in the dollar and widening interest rate…
China’s December macro data and Q4 GDP are further evidence that thus far, the supply-side has been doing the heavy lifting in supporting the economic recovery. Industrial production surprised to the upside in December,…
The pulse from Singapore’s Q4 trade numbers is sending a warning for the global economy. While Singapore’s December domestic export figures were strong, they follow a soft patch. Non-oil domestic exports, as well…
According to BCA Research’s Emerging Markets Strategy service, equity investors should put Indonesian equities on an upgrade watch list, despite their current underweight status. Bond investors should overweight…
China’s trade strength continued into December. Exports were up 18.1% on a year-on-year (y/y) basis in USD terms, beating expectations of a 15.0% y/y rise, while imports accelerated to 6.5% y/y, faster than the 5.7%…
Taiwanese stocks performed extremely well last year, both in absolute terms as well as relative to Emerging Markets. The risk now is that the rally is getting ahead of itself. While the Taiwanese economy will benefit from…
Our models highlight that EM industrial production has significant upside in the coming months. The version adjusting for the autocorrelation of error terms points to a straight line rebound to 2018 growth rates by February. Our…