Asia Economics Update Asia Manufacturing PMIs (July) The July PMI readings for most countries in Asia were subdued and we continue to expect activity in Asia’s export-oriented manufacturing sectors to struggle in the coming months. And with inflation... 1st August 2025 · 2 mins read
Asia Rapid Response Taiwan GDP (Q2 2025, Adv. Estimate) Taiwan’s economy recorded another quarter of strong growth in Q2, of 3.1% q/q, on the back of a boom in exports which more than offset a further slowdown in domestic demand. This pace of growth is... 31st July 2025 · 3 mins read
China Economics Update China trip notes – shrugging off trade tensions We spent last week in Beijing and Shanghai visiting clients. The mood in China was not as downbeat as a year ago and our sense is that many companies and residents have adapted to the new normal of... 29th July 2025 · 5 mins read
Asia Economics Weekly Thai-Cambodia border clashes, more trade deals agreed Border clashes between Thailand and Cambodia have led to falls in Thai financial markets, but the broader economic fallout should be modest. Other risks, which include deflation, political uncertainty... 25th July 2025 · 9 mins read
Asia Economics Update Taiwan’s legislature could flip behind the president Taiwan’s gridlocked government could secure a legislative majority and freedom to enact its policy goals if recall votes next week go its way. The immediate implications for the economy are limited –... 18th July 2025 · 4 mins read
Asia Economics Weekly Asia Weekly: Tariff uncertainty to drag on, export boom won’t last The reciprocal tariff rates announced this week as part of Liberation Day 2.0 were largely unchanged from April, though a few smaller countries in South East Asia saw their rates cut. While the lack... 11th July 2025 · 8 mins read
Asia Economics Update Demographic decline: what Taiwan can learn from Korea Taiwan and Korea face some of the world’s worst demographic headwinds with working-age populations set to shrink by 1% a year over the next decade. Efforts to boost fertility have largely failed, and... 7th July 2025 · 3 mins read
Asia Economics Update What next for the Taiwan dollar? The Taiwan dollar has appreciated sharply against the US dollar in recent months but, for a host of reasons, the central bank seems now to be less tolerant of further currency strength. Even without... 2nd July 2025 · 6 mins read
India Economics Update Asia Manufacturing PMIs (June) The June PMI readings for most countries in Asia were subdued. With worries about growth having taken precedence over those about inflation, we think most central banks in the region will continue to... 1st July 2025 · 2 mins read
Asia Economic Outlook Asia Outlook: Tepid growth for many as tariff threat looms We expect GDP growth across most of Asia to soften in 2025, with many countries likely to record below-consensus growth. The risk of escalating trade tensions remains a key concern, particularly for... 26th June 2025 · 28 mins read
Equities Update Korean equities may not outperform Taiwan much longer Taiwan’s stock market has been a key beneficiary of the AI boom and was one of the top performers in the world in 2024. This year though, equities in fellow Asian tech heavyweight Korea have taken... 20th June 2025 · 4 mins read
Asia Rapid Response Taiwan Monetary Policy Announcement (June 2025) Taiwan’s central bank (CBC) left its main policy rate on hold today (at 2.0%) and we expect interest rates to remain unchanged for the foreseeable future. In contrast, most other analysts are... 19th June 2025 · 2 mins read
Asia Economics Weekly Asia Weekly: Inflation to stay low, sharp fiscal tightening in Pakistan Recent data show inflation stayed soft across Asia last month, with Thailand, Sri Lanka, and China all in deflation. While the jump in oil prices following Israel’s attacks on Iran pose an upside risk... 13th June 2025 · 8 mins read
Asia Economics Weekly Asia Weekly: Exports to US surge, dovish BSP Exports from Vietnam and Taiwan to the US have surged in recent months as US buyers have front-loaded orders ahead of the introduction of tariffs. The strength in exports is likely to continue in the... 9th May 2025 · 6 mins read
Emerging Markets Economics Update EM trade is performing well, but surveys look worrying The trade data available for March and April suggest that a large number of EMs have benefitted from a front-running of tariffs in recent months, particularly those across Asia (Taiwan, Vietnam and... 8th May 2025 · 4 mins read
Capital Daily What to make of the drama in Asian FX We see a few reasons to be sceptical about the chances of a broad-based upwards revaluation of Asian currencies, despite recent moves. 6th May 2025 · 4 mins read
