South Korea’s financial markets stabilise after the lifting of martial law, but the won remains vulnerable to political instability and a national strike threat. Australian GDP growth is more solid than its topline figures suggest.
In our bonus deep-dive interview, ANZ India Economist Dhiraj Nim dismantles India’s food inflation trends to find there’s more than just the weather and climate at work.
5 things to know:
Global stocks and bonds are mixed as investors digest the shock imposition, and then lifting, of martial law in South Korea. ANZ’s Head of Asia Research Khoon Goh says the won’s partial recovery was welcome, but uncertainty remains.
Khoon says both foreign and domestic investors may look at exiting domestic stocks as doubt remains over the future of the President.
Khoon says it didn’t help that Asia’s fourth-largest economy was going through a softer patch.
Australia’s Q3 GDP growth of 0.3% was a touch below expectations, but the detail of the data was more positive, says ANZ Australia Senior Economist Adelaide Timbrell.
Revisions strengthening Australian household sector creates some nuance for the Reserve Bank of Australia’s interpretation of the figures, Adelaide says.
Cheers
Bernard
PS: Catch you tomorrow with a preview of the all-important US non farm payroll figures tomorrow night.
