China Economics Weekly Renminbi set to appreciate further in 2026 The renminbi has made headway recently, both against the US dollar and in trade-weighted terms. With inflation set to remain much lower in China than elsewhere, further nominal appreciation looks... 2nd January 2026 · 6 mins read
Asia Economics Update Asia PMIs, Korea Trade (Dec) & Singapore GDP (Q4) The December Manufacturing PMI readings for most Asian economies remain consistent with generally soft manufacturing activity. However, the PMIs have recently been a poor guide to the hard activity... 2nd January 2026 · 3 mins read
Australia & New Zealand Economics Update Australia’s housing rally will soon slow in earnest Australia’s house price rally lost some steam in December and if we’re right that the Reserve Bank of Australia will lift interest rates as soon as February this slowdown has further to run. 2nd January 2026 · 3 mins read
China Chart Pack China Chart Pack (Dec 25) While China’s growth picked up in November on the back of stronger export growth, the economy looks set to have expanded by less than 3.5% this year. Exports should continue growing next year, despite... 31st December 2025 · 0 mins read
China Rapid Response China PMIs (Dec. 2025) The PMIs point to a partial reversal of the recent weakness in investment spending and construction activity. But momentum in the service sector remains weak and manufacturing’s dependence on exports... 31st December 2025 · 3 mins read
China Activity Monitor CAP: Industrial outperformance continues Our China Activity Proxy suggests that growth picked up in November as export strength helped to boost industrial activity. But, while China’s exports have proved resilient in the face of US tariffs... 30th December 2025 · 1 min read
Asia Economics Update Malaysia: is the strong ringgit a threat to exports? The Malaysian ringgit has appreciated steadily against the US dollar this year and is set to be Asia’s best-performing currency in 2025. While the appreciation has raised competitiveness concerns... 30th December 2025 · 2 mins read
Japan Economics Update Government net debt set to fall below 100% of GDP Japan’s fiscal health has continued to improve. While the expansionary measures taken by PM Takaichi mean that the budget deficit won’t narrow any further next year, it will remain very low. And with... 30th December 2025 · 4 mins read
Asia Chart Pack Asia Chart Pack (December 2025) Our Asia Chart Pack has been updated with the latest data and our analysis of recent developments. We expect most countries in Asia to record solid economic growth in 2026. Robust demand for AI... 29th December 2025 · 0 mins read
Japan Rapid Response Japan Industrial Production & Retail Sales (Nov. 2025) At first glance, the November activity data appear to be a mixed bag. However, a look under the hood suggests that the economy is poised to rebound firmly from its Q3 contraction. 26th December 2025 · 2 mins read
Climate Economics Update China exports more green tech to emerging markets China’s green technology exports rebounded at a strong pace in year-on-year terms as China continues to reorient shipments towards emerging markets (EMs) amid US tariffs. While there remains a risk of... 22nd December 2025 · 2 mins read
Asia Economics Update Korea’s equity rally: what comes next? Korea’s equity market has delivered an exceptional rally this year, driven by the restoration of political stability, long-overdue corporate governance reforms and strong exposure to the global AI... 22nd December 2025 · 3 mins read
Capital Daily Is the problem with the yen a real one? Today’s decision by the Bank of Japan (BoJ) to raise it key policy rate by another 25bp has done nothing to shore up the yen, which has fallen by another ~1% against the US dollar. Admittedly, the... 19th December 2025 · 4 mins read
Japan Economics Weekly BoJ flags further hikes, Sino-Japan rift hits tourism With the outcome of today’s meeting no great surprise, the Bank of Japan used it to lock in expectations that further policy rate increases will follow. One potential obstacle is an imminent fall in... 19th December 2025 · 6 mins read
Asia Economics Weekly Key calls for 2026, SBP resumes its easing cycle This week we released our latest quarterly Asia Economic Outlook. The key takeaway is that, with growth set to remain solid, easing cycles are likely to come to an end next year. In a separate... 19th December 2025 · 5 mins read
China Economics Weekly Fiscal pullback weighing on growth Fiscal spending has slowed sharply since October despite ample fiscal space in the current budget, suggesting that local governments have been failing to make full use of the available funds earmarked... 19th December 2025 · 7 mins read
