we mentionedhow all Asian markets had a big Monday session.
Via Nomura real quick, here’s the strong data that boosted the shares.
Japan: The second preliminary estimate of real Q2 GDP growth was upwardly revised to an annualised 3.8% q-o-q from the previous estimate of 2.6% (Consensus: 3.9%).
China: Export growth rebounded further to 7.2% y-o-y in August from 5.1% in July (Consensus: 5.5%; Nomura: 7.0%). Import growth slowed to 7.0% y-o-y in August from 10.9% previously (Consensus: 11.3%), leading to a wider trade surplus of USD28.5bn.
China: CPI inflation eased slightly to 2.6% y-o-y in August from 2.7% in July, in line with expectations. China: PPI inflation improved to -1.6% y-o-y in August from -2.3% previously (Consensus: -1.7%).
The other two events that mattered regionally: Tokyo won the 2020 Olympics, and in Australia, the conservative party swept into office with a mandate to kill the country’s carbon tax.