{"id":13762,"date":"2023-04-17T21:49:28","date_gmt":"2023-04-17T21:49:28","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/marketmind-china-under-political\/"},"modified":"2023-04-17T21:53:46","modified_gmt":"2023-04-17T21:53:46","slug":"marketmind-china-under-political","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/marketmind-china-under-political\/","title":{"rendered":"Marketmind: China under political, economic scrutiny"},"content":{"rendered":"

By Jamie McGeever<\/p>\n

(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever.<\/p>\n

Investors’ focus on Tuesday rests squarely on China: From an economic and market perspective, eyes are on a raft of data including first-quarter GDP; while the latest twist in souring U.S.-Sino relations will do little to ease geopolitical concerns.<\/p>\n

U.S. law enforcement officials on Monday arrested two New York residents for allegedly operating a Chinese “secret police station” in Manhattan’s Chinatown, part of a crackdown on Beijing’s alleged targeting of U.S.-based dissidents.<\/p>\n

Also on Monday, U.S. prosecutors unveiled charges against 34 Chinese officials for allegedly operating a “troll farm” and harassing dissidents online, including by disrupting their meetings on U.S. technology platforms.<\/p>\n

This comes amid growing tension between the world’s two superpowers, most recently over Taiwan. A U.S. warship sailed through the Taiwan Strait on Sunday, just days after China ended its latest war games around the island.<\/p>\n

Investors are reacting with their feet. Big global money managers dumped Chinese equities in recent days, while adding U.S. energy shares to portfolios at a near-record pace, according to a Goldman Sachs report.<\/p>\n

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GRAPHIC: China GDP growth vs interest rates https:\/\/fingfx.thomsonreuters.com\/gfx\/mkt\/mopakyrmmpa\/ChinaGDPRates.jpg <\/p>\n

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If it were solely down to the economic numbers coming out of China, investors might be reacting differently. By many measures, the country’s re-opening from nearly three years of Covid lockdown has gone better than expected – China’s economic surprises index last week hit a 17-year high.<\/p>\n

Figures on Tuesday are expected to show gross domestic product expanding 4.0% from a year ago and rising 2.9% from the October-December period.<\/p>\n

The annual readings of growth in urban investment, industrial output and retail sales for March are all seen rising strongly too, especially retail sales – economists expect a 7.4% rise, more than double February’s 3.5% increase.<\/p>\n

Indonesia’s central bank, meanwhile, is widely expected to leave its key interest rate unchanged at 5.75% for a third consecutive meeting, and for the rest of 2023.<\/p>\n

Although inflation has been cooling since September, March’s reading of 4.97% was still above Bank Indonesia’s target range of 2%-4%. Policymakers are confident, however, that previous tightening will get it back to target later this year.<\/p>\n

Here are three key developments that could provide more direction to markets on Tuesday:<\/p>\n

– Chinese ‘data dump’<\/p>\n

– Indonesia central bank policy decision<\/p>\n

– U.S. Q1 earnings season picks up pace<\/p>\n

\n

(By Jamie McGeever)<\/p>\n

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By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Investors’ focus on Tuesday rests squarely on China: From an economic and market perspective, eyes are on a raft of data including first-quarter GDP; while the latest twist in souring U.S.-Sino relations will do little to ease geopolitical […]<\/p>\n","protected":false},"author":8,"featured_media":13763,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-13762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3G0SW-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=13762"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13762\/revisions"}],"predecessor-version":[{"id":13764,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13762\/revisions\/13764"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/13763"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=13762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=13762"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=13762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}