Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Overview of China's Q3 Economic Performance
China's economy recorded a 4.6% year-on-year growth in the third quarter of 2024, slightly surpassing the 4.5% forecast from a Reuters poll but down from 4.7% in Q2. The latest data highlights the ongoing struggle of the world’s second-largest economy, particularly due to a tumbling property sector that continues to impede recovery efforts.
Key Economic Indicators
- GDP Growth: Q3 GDP rose by 0.9% quarter-on-quarter, below the forecast of 1.0%.
- Industrial Output: September saw an increase of 5.4% year-on-year, beating expectations of 4.5%.
- Retail Sales: Retail sales grew by 3.2% in September, outperforming the 2.5% forecast.
- Property Investment: A significant decline of 10.1% year-on-year in property investment reflects ongoing challenges.
Market Reaction and Expert Commentary
Following the data release, the CSI300 Index fell by 0.4%, and the Shanghai Composite Index dropped by 0.33%. Experts like Toru Nishihama from Dai-ichi Life Research Institute emphasized that excess supply and lack of demand are pressing issues. Meanwhile, Alvin Tan of RBC Capital Markets pointed out that the data, although better than expected, indicates decelerating growth trends.
Looking Ahead
Despite recent stimulus measures, analysts predict that achieving the government’s 5% growth target may be challenging without substantial fiscal policies. As China navigates structural issues like high debt and an aging population, investors are eagerly awaiting clearer fiscal strategies to stabilize the economy
