Chinese weekend data is here: Retail sales beat, industrial production miss, investment miss
Bloomberg have a bit of a recap on it.
Notably, chief China economist at UBS in Hong Kong, Wang Tao expects increasing government support:
"The economy still faces serious downward pressure
The government will have to redouble efforts in pushing infrastructure investment in the rest of the year to stabilize growth"
In addition, comments from Ding Shuang, chief China economist at Standard Chartered in Hong Kong:
"From the perspective of monetary policy, the government has done what it can, but demand from the real economy needs to pick up to really make use of that
Now the government can only rely on fiscal policy
The dept-swap program can help relieve pressure, and the government needs to expedite the pace to approve investment projects."
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Currencies have shown little response to this, and other weekend news, having settled quietly already this morning, with only minor movement in this pre-Tokyo trading time.
