In today’s briefing:
- Good Morning Japan |Benign CPI; Fed Pause in the Crosshairs – Equities Extend Rally
- Chinese Consumers Are Set to Power the Recovery, UBS Says
- Airlines Overwhelmed by Travel Boom After China Ditches Quarantine
- Indonesian Regulator Holds E-Pharmacies Responsible for Selling Restricted Drugs
Good Morning Japan |Benign CPI; Fed Pause in the Crosshairs – Equities Extend Rally
- OVERSEAS: CPI slows, Fed Pause narrative strengthens; Yields fall; DXY weakens; Equity rally continues; TSMC Optimism add fuel Semis
- JAPAN: NKY Futs -1.0% vs Cash; USDJPY ¥129.24; BOJ to end YCC narrative gather steam – Banks rally; Foreigners Selling JGBs; Earnings: Seven &I beats; Fasty misses; We are bullish
- DAILY NUGGETS: Our meme below says it all – we leave it to the experts to breakdown the data but the evidence indicates INFLATION DEFEATED.
Chinese Consumers Are Set to Power the Recovery, UBS Says
- Consumption in China is expected to grow 6% to 7% in 2023 from the previous year on the back of reviving confidence and the release of pent-up demand after three years of stringent Covid restrictions
- For the first time since the pandemic hit, China’s consumption growth this year will outpace the country’s economic expansion, which is projected at around 5%
- The growing demand partly reflects Chinese households’ rising deposits during the pandemic, when restrictive measures reined in spending
Airlines Overwhelmed by Travel Boom After China Ditches Quarantine
- Airlines are struggling to keep up with surging demand for international travel after the Chinese government reopened the country’s borders and abolished the quarantine requirement for inbound travelers.
- The number of flights to and from the Chinese mainland rose to 273 on Wednesday from 205 on Sunday when quarantine requirements were lifted
- International flight tickets remain in short supply. Almost all direct flights throughout January from South Korea to China are sold out, according to state broadcaster CCTV
Indonesian Regulator Holds E-Pharmacies Responsible for Selling Restricted Drugs
- Badan Pengawas Obat dan Makanan (BPOM), Indonesia’s national food and drug agency, told Tech in Asia that it holds the electronic pharmaceutical system operators – or PSEF – responsible for the sale of prohibited drugs on their platforms.
Licensed online pharmacies are accountable because they have “full control over the content and products that are displayed,” the regulator said.
- This implies that as a marketplace, Halodoc is not responsible for the sale of any restricted drugs, but BPOM’s responses indicate otherwise.
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