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ASIA: PMIs Treading Water with Vietnam the Only Bright Spot.

ASIA

 

  • The raft of PMIs across Asia today saw an even mix between those countries remaining in modest contraction and those expanding.
  • With numbers printing in line with prior months, Indonesia, South Korea and Malaysia’s PMI are moderating.
  • For Indonesia, this was the fourth successive month of contraction, Korea the second and Malaysia the fifth.
  • The BNM meets next week on November 06 to decide on monetary policy with expectations at this stage for no change.
  • Indonesia's Central Bank follows thereafter on November 20 and the Bank of Korea on November 28.
  • Vietnam was the only bright spot, expanding more than expected – up 51.2 whilst Thailand and Taiwan are only just in expansion territory.   
  • The region’s fortunes remain correlated with the fortunes of China’s economy and the impact of the various stimulus measures announced since September.
  • Expectations are growing that next weeks Party Congress Meeting in China could result in even more stimulus measures announced and could ultimately benefit the broader region, a factor that will be considered as the Central Banks meet. 

 

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  • The raft of PMIs across Asia today saw an even mix between those countries remaining in modest contraction and those expanding.
  • With numbers printing in line with prior months, Indonesia, South Korea and Malaysia’s PMI are moderating.
  • For Indonesia, this was the fourth successive month of contraction, Korea the second and Malaysia the fifth.
  • The BNM meets next week on November 06 to decide on monetary policy with expectations at this stage for no change.
  • Indonesia's Central Bank follows thereafter on November 20 and the Bank of Korea on November 28.
  • Vietnam was the only bright spot, expanding more than expected – up 51.2 whilst Thailand and Taiwan are only just in expansion territory.   
  • The region’s fortunes remain correlated with the fortunes of China’s economy and the impact of the various stimulus measures announced since September.
  • Expectations are growing that next weeks Party Congress Meeting in China could result in even more stimulus measures announced and could ultimately benefit the broader region, a factor that will be considered as the Central Banks meet.