In today’s briefing:
- ASEAN Reversal. Asia Ex-Japan Managers Raise Allocations
- CX Daily: What We Know So Far About the Crash of Flight MU5735
- CX Daily: Trip.com Eyes Post-Pandemic Tourism Boom as Rivals Circle
- Policy Rate Unchanged But “Hawkish” Shift Due To Inflation
ASEAN Reversal. Asia Ex-Japan Managers Raise Allocations
- As concerns over China persist, Asia Ex-Japan managers are becoming more constructive on the ASEAN Region and appear amenable to increasing allocations.
- Indonesia and Singapore are the largest country allocations, Indonesia/Vietnam the key overweights and Malaysia/Thailand the key underweights. Only 20.4% of managers have any Malaysia exposure at all.
- Sea Ltd and Bank Central Asia are the key overweights in the region. Recent activity has favoured Cisarua Mountain Dairy, Central Pattana Pub and Telekomunikasi Indonesia.
CX Daily: What We Know So Far About the Crash of Flight MU5735
Budgets / In Depth: The growing difficulty of balancing China’s local government budgets
Crash / Caixin Explains: What we know so far about the crash of flight MU5735
Audit / China’s securities watchdog mulls move to break audit deadlock with U.S.
CX Daily: Trip.com Eyes Post-Pandemic Tourism Boom as Rivals Circle
Trip.com / In Depth: Trip.com eyes post-pandemic tourism boom as rivals circle
Bonds / Sunac China seeks two-year extension on $627.85 million bond
Manufacturing / Economists explain why foreign investment in China’s manufacturing hasn’t returned to pre-pandemic levels
Policy Rate Unchanged But “Hawkish” Shift Due To Inflation
- BSP sees domestic growth gaining stronger traction
- BSP adjusts 2022 & 2023 inflation forecasts higher
- We now expect two +25bps hikes at end-3Q 2022 and end-4Q 2022 as monetary policy statement turns “hawkish” on inflation
Before it’s here, it’s on Smartkarma
