News Headline Summary

Chinese data from over the weekend...

Chinese Trade Balance (May) (USD) M/M 20.43bln vs. Exp. 20.00bln (Prev. 18.16bln)
- Exports (May) M/M 1.0% vs. Exp. 7.4% (Prev. 14.7%)
- Imports (May) M/M -0.3% vs. Exp. 6.6% (Prev. 16.8%)

Chinese CPI (May) Y/Y 2.1% vs. Exp. 2.5% (Prev. 2.4%)
Chinese PPI (May) Y/Y -2.9% vs. Exp. -2.5% (Prev. -2.6%)

Chinese Industrial Production (YTD) Y/Y 9.4% vs. Exp. 9.4% (Prev. 9.4%)
Chinese Industrial Production (May) Y/Y 9.2% vs. Exp. 9.4% (Prev. 9.3%)

Chinese Retail Sales (YTD) Y/Y 12.6% vs. Exp. 12.6% (Prev. 12.5%)
Chinese Retail Sales (May) Y/Y 12.9% vs. Exp. 12.9% (Prev. 12.8%)

Update details:

- The lower than expected exports figure for May could have been affected by the recently implemented rules by the China State Administration of Foreign Exchange, which are to curb CNY appreciation and hot money flows by limiting Chinese banks' long CNY positions and increasing scrutiny on exporters who channel money into the country disguised as trade payments.

Print 21:11, 09 Jun 2013 - Asian News - Source: Newswires