ASIA: In its monthly economic report, the Japanese government described its economy as “growing modestly,” leaving the overall rating unchanged from the previous month, while noting an upward revision of factory output. Factory output showed signs of recovery, the report said, compared to July, when output appeared to be flat. This marked the first upgrade […]

ASIA: Foreigners are returning to Indian stocks after dismissing them in the first half as they seek higher yields amid expectations that major central banks will slow their growth cycles as price pressures ease. Foreigners have invested $6.4 billion in Indian stocks since the start of July, after spending more than $27 billion in the […]

ASIA: China cut its benchmark interest rate and cut its benchmark mortgage loan by a wider margin on Monday, adding to last week’s easing measures as Beijing ramps up efforts to revive an economy battered by an asset crisis and a resurgence of COVID-19 cases. The People’s Bank of China (PBOC) is walking a tightrope […]

ASIA: Japan’s imports jumped to a record amount in July, boosted by global fuel inflation and a weak yen, outweighing exports and deepening the trade deficit, in a sign of a further worsening in the terms of trade for the export-oriented economy. Ministry of Finance data showed on Wednesday exports grew 19.0% in July from […]

ASIA: India’s consumer inflation eased to 6.71% in July, easing for a third straight month, helped by slower increases in food and fuel prices and adding to expectations that the central bank may rein in the pace of interest rate hikes next month. The year-on-year figure, published by the Office for National Statistics on Friday, […]

ASIA: China’s consumer inflation could soon surpass 3%, CICC said. A global inflation wave that has largely bypassed the world’s second-largest economy may eventually hit prices there. Consumer price inflation in China has remained relatively low compared to soaring costs seen elsewhere as demand remains squeezed by strict Covid control policies and sporadic outbreaks. China’s […]

American household has reached a new high, according to a report by the Federal Reserve Bank of New York. Total household debt has surpassed $16 trillion for the first time in American history. Americans have taken on $2 trillion in additional debt since the pandemic. Aggregate household debt balances rose by $312 billion in Q2 […]

They will never learn. Federal Reserve Chairman Jerome Powell apologized for calling inflation “transitory” when all data pointed to it rising. The White House conveniently changed the definition of a recession days before the GDP data was released and declared that two consecutive quarters of decline no longer qualified as a recession. Now, Treasury Secretary […]

ASIA: An iPhone manufacturing plant in the southern Chinese city of Shenzhen is being forced into a seven-day “closed-loop” lockdown by Chinese authorities, along with 100 other companies, to limit COVID-19 infections, Bloomberg reported. The “closed loop” system will mean that only employees who live on site will be able to work, blocking outside access […]

ASIA: Singapore’s sovereign wealth fund GIC reported steady returns for the year but warned of “deep uncertainties” as investors face concerns over inflation, pandemic risks and geopolitical challenges. The fund’s portfolio posted an annualized nominal dollar return of 7% over the 20-year period ending March 31, 2022, GIC said in its annual report released on […]