Mixed Q2 GDP figures, China tourism clampdown

For the countries that have already reported second quarter GDP figures, the numbers have been a mixed bag – growth picked up in Korea and Taiwan, but slowed in Singapore and Hong Kong. We only have a partial breakdown of the GDP figures at this stage, but one thing that comes across is that the weakness in exports seen earlier in the year seems to be fading. Meanwhile, China’s decision earlier this week to stop issuing travel permits for individual leisure trips to Taiwan is likely to lead to a sharp fall in Chinese tourists visiting Taiwan, but the impact on the overall economy is likely to be fairly small.