ASIA: Japan’s economy grew more than initially reported in the second quarter, as the lifting of local COVID-19 restrictions boosted consumer and business spending. Gross domestic product (GDP) in the world’s third-largest economy expanded an annualized 3.5% in the second quarter, stronger than the preliminary estimate of annualized 2.2% growth, government data showed Thursday. The […]

ASIA: US Trade Representative Katherine Tai suggested on Wednesday that punitive tariffs on Chinese imports will not drop until Beijing adopts more market-oriented trade and economic principles. Speaking at a discussion organized by the Carnegie Endowment for International Peace, Tai elaborated on US President Joe Biden’s economic strategy with regard to China, characterizing it as […]

ASIA: India’s dominant services industry grew faster than expected in August thanks to a solid expansion in demand and a continued easing in cost pressures, encouraging firms to hire at the quickest pace in more than 14 years, a private survey showed. Driven by strong growth in services and manufacturing activity, Asia’s third-largest economy expanded […]

ASIA: The Japanese Yen is trading at a fresh 24-year low against the US dollar as the short-term yield spread between the two countries continues to widen. Two-year Japanese bonds are currently trading with an 8bp negative yield, while the US two-year offers a meaty 3.51%, its highest level in 15 years. This gulf in […]

ASIA: The southwestern Chinese capital of Chengdu announced a lockdown of its 21.2 million residents as it began four days of citywide testing for COVID-19 as some of the country’s most populous and economically important cities battle outbreaks. Residents of Chengdu, the capital of Sichuan province, were ordered to stay at home from 6 p.m. […]

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ASIA: Goldman Sachs cut China’s growth forecast to 7.8 percent this year from the previously estimated 8.2 percent, as the world’s second largest economy faces “yet another growth shock” in the form of constraints on energy consumption. The country is already battling to save Evergrande amid fears that Chinese property behemoth could turn out into […]