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China’s industrial profits retreated in October after two strong months, reflecting ongoing weakness in domestic demand and the drag from softer export orders.
The setback is likely to reinforce calls for stronger policy support to bolster household spending and reduce the economy’s dependence on exports amid persistent tariffs and rising trade barriers.
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The figures underline the structural challenges facing the world’s second-largest economy. Growth momentum has faded sharply, with third-quarter GDP slowing to its weakest pace in a year.
Earlier data showed October retail sales underperformed despite an extended national holiday and the launch of Singles’ Day promotions, while producer prices remained in deflation and factory output grew at its slowest annual rate since August 2024.
Beijing has signalled a shift toward prioritising consumption over the next five years, though it has avoided deploying broad stimulus. High youth unemployment and a prolonged property downturn continue to weigh on confidence. The data cover industrial firms with annual operating revenue above 20 million yuan.
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The data underscores patchy manufacturing momentum, offering limited support for China-sensitive commodities and adding to the argument for further targeted policy support.
This article was written by Eamonn Sheridan at investinglive.com.
China’s industrial profits retreated in October after two strong months, reflecting ongoing weakness in domestic demand and the drag from softer export orders.
The setback is likely to reinforce calls for stronger policy support to bolster household spending and reduce the economy’s dependence on exports amid persistent tariffs and rising trade barriers.
–
The figures underline the structural challenges facing the world’s second-largest economy. Growth momentum has faded sharply, with third-quarter GDP slowing to its weakest pace in a year.
Earlier data showed October retail sales underperformed despite an extended national holiday and the launch of Singles’ Day promotions, while producer prices remained in deflation and factory output grew at its slowest annual rate since August 2024.
Beijing has signalled a shift toward prioritising consumption over the next five years, though it has avoided deploying broad stimulus. High youth unemployment and a prolonged property downturn continue to weigh on confidence. The data cover industrial firms with annual operating revenue above 20 million yuan.
—
The data underscores patchy manufacturing momentum, offering limited support for China-sensitive commodities and adding to the argument for further targeted policy support.
This article was written by Eamonn Sheridan at investinglive.com.
Bank of Japan board member Asahi Noguchi said the central bank would begin to gradually dial back monetary accommodation if economic activity and prices continue to evolve in line with the BoJ’s current outlook. Speaking on Wednesday, he stressed that achieving “sustainable and stable” inflation requires a steady expansion in demand and a sustained rise in nominal wages, particularly across smaller firms and regional economies. Noguchi reiterated that the durability of wage momentum will determine whether underlying inflation can hold a steady path toward the 2% target.
Although headline CPI growth is expected to ease, he warned that localised chain reactions in price increases could re-emerge — similar to the recent run-up in food prices such as rice — as supply–demand tightness prompts firms to compensate for past delays in passing through costs. Noguchi also said the impact of U.S. tariffs on Japan’s economy has been limited so far.
He added that if the BoJ achieves its inflation target in the latter half of its projection horizon, the bank should adjust interest rates at an “appropriate pace” to stay aligned with that timeline, signalling a gradual and data-dependent normalisation path.
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JPY has been on a gradual upswing so far during the session.
This article was written by Eamonn Sheridan at investinglive.com.
Bank of Japan board member Asahi Noguchi said the central bank would begin to gradually dial back monetary accommodation if economic activity and prices continue to evolve in line with the BoJ’s current outlook. Speaking on Wednesday, he stressed that achieving “sustainable and stable” inflation requires a steady expansion in demand and a sustained rise in nominal wages, particularly across smaller firms and regional economies. Noguchi reiterated that the durability of wage momentum will determine whether underlying inflation can hold a steady path toward the 2% target.
Although headline CPI growth is expected to ease, he warned that localised chain reactions in price increases could re-emerge — similar to the recent run-up in food prices such as rice — as supply–demand tightness prompts firms to compensate for past delays in passing through costs. Noguchi also said the impact of U.S. tariffs on Japan’s economy has been limited so far.
He added that if the BoJ achieves its inflation target in the latter half of its projection horizon, the bank should adjust interest rates at an “appropriate pace” to stay aligned with that timeline, signalling a gradual and data-dependent normalisation path.
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JPY has been on a gradual upswing so far during the session.
This article was written by Eamonn Sheridan at investinglive.com.
JPMorgan says the S&P 500 could push toward 8,000 by 2026 if the Federal Reserve delivers more rate cuts than markets currently anticipate.
In its new Global Equity Outlook, the bank sees the index reaching around 7,500 under its base case, supported by strong earnings momentum, lower policy rates and easing macro pressures. The U.S. remains JPMorgan’s primary growth engine, underpinned by a resilient economy and a sustained boom in AI-related capital spending.
The bank expects U.S. earnings to grow 13–15% over the next two years and argues that elevated valuations are defensible given accelerating AI investment, expanding shareholder returns and potential policy tailwinds. But JPMorgan also highlighted risks: rapid AI disruption could heighten imbalances across the economy and fuel more volatile swings in investor sentiment.
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Speaking of 8,000:
This article was written by Eamonn Sheridan at investinglive.com.
The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.
The previous close for the pair was 7.0754
PBOC injects 356.4bn yuan at 1.40% via 7-day reverse repos
This article was written by Eamonn Sheridan at investinglive.com.
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