Asian Stocks Fall as Oil Tops $100, Yields Rise 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
South Korea GDP Surges on Chip and AI Boom 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Norway Core Inflation Rises to 3% in August 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
ECB Rate Hike in Focus as Oil Tops $100 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
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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
