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China's yuan-denominated loans rose 8.6 trillion yuan in the first quarter, according to data from the People's Bank of China.Household loans rose by 296.7 billion yuan, loans to enterprises and institutions increased by 8.6 trillion yuan and loans to non-bank financial institutions decreased by 368 billion yuan.At the end of March, domestic and foreign currency yuan loans rose 5.7% year on year to 284.5 trillion yuan.
Chinese miners have boosted their expansion abroad, pointing to a structural change in the sector, S&P Global Ratings said in a Monday release.The recent development is in contrast with the previous government-pushed "go-out" phase led by state-owned enterprises, S&P said.Private companies are focusing on acquisitions abroad to become global players, increase product portfolios, and push for geographic diversification, the rating agency said.Companies that have better financial strength and are more commercially driven have led the overseas move, while metals markets continue to be favorable, S&P said.The rating agency views rated Chinese miners as having broadly solid operating cash flow and good financing access, which anchor their ability to have material investments abroad.
The Middle East conflict reveals gaps in the capacity of Asian technology companies to buffer against increased costs, S&P Global Ratings said in a Monday release.The rating agency considers high-end chip producers as faring well when increasing prices, backed by favorable demand and solid investment in AI data centers.However, consumer electronics have the weakest ability to pass through costs, while electronics manufacturers would also be exposed to dampened demand under a protracted war, S&P said.In S&P's base-case scenario, under which the Strait of Hormuz's closure eases in April, its rated technology firms in the region have solid financial ability to cushion against the impacts, credit analyst Cathy Lai said.A prolonged conflict would hit larger tech firms' supply chain and impact electronic product makers' margins and demand, Lai said.Most producers, as well as logistics companies, will be vulnerable under disruption to power supply and some key raw materials, S&P said.Regions reliant on liquefied natural gas and oil imports from Qatar and other Middle Eastern countries house most advanced semiconductor manufacturers, with Taiwan being the most vulnerable, the rating agency said.For crucial raw materials, helium is the most susceptible given its use in semiconductor manufacturing, although S&P believes leading companies have ample helium inventory to offset near-term risk.Companies with solid supply chains and investment in the AI market will potentially retain their credit profiles, while those dependent on commoditized consumer segments will see greater pressure, Lai said.
Chinese rare-earth companies saw spikes in their closing prices on Monday following an increase in their second-quarter product prices.Inner Mongolia Baotou Steel Union (SHA:600010) finished 5% higher, while China Northern Rare Earth Group High-Tech (SHA:600111) closed at 1% higher.The companies said their rare earth concentrates were priced at 38,804 yuan per ton, according to separate Saturday filings with the Shanghai bourse.The increases come as Beijing applied retaliatory export curbs following tariffs by U.S. President Donald Trump, according to a separate Bloomberg report Monday.
For the week ahead in Asia, markets will be focused on a slate of monthly data that will help investors assess how the Middle East conflict is feeding into economic conditions across the region.The week opens Monday with New Zealand's services sector survey and India's March inflation print, as well as a scheduled speech by the Bank of Japan's governor that could offer clues on the timing of a possible rate hike.Attention then shifts Tuesday to China's trade figures and a monetary policy decision in Singapore, alongside business and consumer confidence readings from Australia and industrial production data from Japan.Midweek brings trade and labor market data from India and South Korea, while Thursday is headlined by China's first-quarter GDP report and a broad batch of activity indicators.Friday rounds off the week with Malaysia's preliminary first-quarter GDP and inflation data, as well as Singapore's March trade numbers, including non-oil exports.Here's what to watch in the week ahead.MONDAY, April 13The week kicked off with a report indicating New Zealand's services sector shrank for the third consecutive month as the conflict in the Middle East impacted consumer confidence.The BusinessNZ Performance of Services Index for March came in at 46.0, down 1.6 points from February and 6.6 points lower than the long-term average of 52.8."So poor was the PSI reading that our combined PMI/PSI indicator is suggesting the economy could soon be contracting," said Stephen Toplis, BNZ's head of research.Outside of New Zealand, markets will be on the look out for India's March inflation print.A consensus compiled by Trading Economics indicated that the pace of price increase may have quickened during the month to around 3.5% year on year from the 3.2% recorded in February.The March print will give observers the first real look on how the Indian economy is faring after war broke out in the Middle East.While overall inflation is expected to rise, core inflation--which excludes the impact of some items--is likely to clock in at below 4%, giving the Reserve Bank of India room to shy away from a hawkish stance near term, economists at DBS said, the Wall Street Journal reported.Meanwhile, markets will also be closely following a scheduled speech by Bank of Japan Governor Kazuo Ueda on the possible timing of a rate hike. The central bank is reportedly considering a rate hike this month to counter price pressures from the Iran war.Elsewhere, Indonesia reported a 6.5% annual rise in retail sales during February, quickening from the 5.7% growth witnessed a month prior.TUESDAY, April 14China's trade figures will capture headlines Tuesday.The world's second-largest economy could report a trade surplus of $112 billion in March, higher than the $91 billion captured in February, according to a consensus compiled by Trading Economics.Despite the rising surplus, economists at ING said they expect March export growth to moderate from the figures seen in the first two months of the year.A monetary policy decision and an advance estimate of GDP growth in the first quarter is expected in Singapore.Unlike other economies, Singapore tweaks its currency exchange rate rather than its domestic interest rates to control inflation. While the Monetary Authority of Singapore has not adjusted its policy since April 2025, it is now expected to tighten the valves in response to the Middle East conflict, according to a survey of economists compiled by Bloomberg, CNA Digital reported.Meanwhile, Singapore's economy likely slowed during the first three months of the year due to a pullback in manufacturing activity, the WSJ reported, citing Barclays economists.The city-state's economy expanded 6.9% year-on-year in the final quarter of 2025 and by 5% during the entirety of the year.In January, the city-state had upgraded its 2026 forecast to a range of 2% to 4%, with growth outlook raised to 3%. However, Deputy Prime Minister Gan Kim Yong said in March the government will reassess its GDP forecast following the U.S.-Israeli attack on Iran.A pair of reports covering business and consumer confidence in Australia are expected.Consumer confidence was near the bottom of its 18-month range in March, and the April survey was shaping up for a bigger drop as consumers reckoned with the implications of the conflict in the Middle East, the National Australia Bank said in a preview.Meanwhile, the March business confidence report should capture the flow through impacts from the energy crisis and higher borrowing costs in Australia, Westpac said."Widespread supply disruptions and soaring energy costs are likely to be reflected in higher business input and output costs," the firm said in a note.Japan's industrial production stats will also be in focus on Tuesday, while India will release wholesale price inflation data the same day.WEDNESDAY, April 15A slew of macro data from India and South Korea will be in the news Wednesday.India will report its trade figures for March which could show a widening of the trade deficit to $32.75 billion from $27.1 billion in the month prior, according to a consensus compiled by Trading Economics.Labor data, due the same day, could show unemployment climbed to 5.1% from 4.9% in February, according to another Trading Economics consensus estimate.South Korea will similarly report March labor data and export and import prices.Unemployment in South Korea has been on a downward trajectory since December when it stood at 3.3%. The most recent reading was of 2.9%.Japan's machinery orders stats are also scheduled for release Wednesday.THURSDAY, April 16Markets will turn their attention to a flurry of data coming in from China, including the closely watched GDP growth rate for the first quarter of the year.Analysts place China's Q1 GDP growth rate at 4.9% year on year, rising from the 4.5% recorded in the closing months of 2025, the WSJ reported. Economists at DBS attributed the expected rise in growth to a jump in overseas demand for Chinese goods, the WSJ added.The GDP release will be accompanied by China's house price index, offering an insight into new home prices across 70 cities that markets use as a benchmark. New prices are expected to stay in negative territory, though any moderation would be viewed positively, economists at ING said.Additional releases will include China's industrial production data, retail sales figures, and unemployment stats."Other than industrial production, which we expect to grow around 5.5% YoY, economic activity data is likely to remain rather soft in March," ING said in a preview.Labor data from Australia is also expected Thursday.The National Australia Bank expects the jobless rate to stay at 4.3%, with employment rising by 25,000. "While the survey period captures the escalation in the Middle East conflict, it is likely too early to see a response to this reflected in the data," NAB said in a note.The Reuters Tankan Index for April, a key gauge of Japanese business confidence, will be due the same day.FRIDAY, April 17The week rounds off with Malaysia's preliminary GDP growth rate figures for the first quarter of the year.Economists at ANZ expect first-quarter growth to ease to 5.3% from the 6.3% recorded in the final quarter of 2025, the WSJ reported. Despite stronger agriculture output, the Malaysian economy saw industrial and retail activity moderate during the opening months of 2026, the report said, citing ANZ.Malaysia's inflation data is also expected Friday, with Trading Economics forecasting the pace of price increase to quicken to 1.8% year on year from the 1.4% recorded in February.Singapore reports March trade data, including non-oil exports, the same day.
Chinese equities closed flat, mainly in positive territory, slightly rebounding from earlier losses due to threats of the U.S. blocking the Strait of Hormuz.The Shanghai Composite Index moderately rose to close Monday's trade at 3,988.56. The Shenzhen Component Index added 0.7%, or 98.39 points, to 14,407.86.Investors are still cautious as talks between the U.S. and Iran crumbled, prompting President Donald Trump to announce an immediate naval blockade of the strait, which is a critical global oil passageway.Despite the growing Middle East tensions, the Asian Development Bank, or ADB, lifted its economic forecast for China for the year, bringing its gross domestic product 4.6% from the previous forecast of 4.3%. The ADB attributed the improved outlook on the government's support for high-tech innovation and continued exports as China leans towards non-U.S. global trade partners.In corporate news, Haisco Pharmaceutical (SHE:002653) soared after granting AbbVies exclusive rights for Nav1.8 inhibitors.Jinan Shengquan (SHA:605589) rose 2.7% amid plans to issue convertible bonds worth 2.50 billion yuan.
China is preparing to export new air defense systems to Iran in the next few weeks through third countries to mask their origin, CNN reported Saturday, citing three people familiar with U.S. intelligence assessments.The news outlet considers the move "provocative" as Beijing is said to have helped broker the truce between Washington and Tehran.Beijing is gearing up to transfer shoulder-fired anti-air missile systems known as MANPADs, the news outlet said.President Donald Trump said the deliveries could cause "big problems" for China but did not explain further, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
The U.S.' top diplomat in Taiwan called on mainland China to stop threatening and applying military pressure on the island to stabilize relations, Reuters reported Sunday."We further expect China to abandon threats against Taiwan or military pressure. I believe this would help ease cross-strait tensions," Reuters quoted American de facto ambassador to Taiwan, Raymond Green, as saying.Green also called on Beijing to keep communication lines with Taiwanese leaders open to "stabilize cross-strait relations," the report said.The Chinese military patrols around Taiwan daily and views the island as its province.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
The Middle East conflict indirectly impacts Asia-Pacific insurers mostly through financial market volatility, S&P Global Ratings said in a recent release.The rating agency expects risks to be manageable under its base-case scenario of the war peaking and the Strait of Hormuz's closure easing during April.S&P expects the insurers to have ample capital buffers to cushion against investment and underwriting stresses from the conflict under the base-case scenario.However, risks could exacerbate under further disruption in the oil markets, with insurers from low-income net energy-importing economies the most exposed, S&P said.Possible losses for the region's insurers will stem from marine and cargo policies given Middle Eastern trade flows, although the segment accounts for a small portion of overall premiums, S&P said.A protracted conflict would raise input costs for insurers, dampen the macroeconomic environment, and worsen living costs, according to credit analyst Philip Chung.Meanwhile, nonlife insurers would face increased claims expenses in motor, property, and commercial lines, leading to increased premiums, the analyst said.
Chinese railways' fixed-asset investment in the first quarter rose 5.1% year on year to 137.9 billion yuan, Xinhua reported Saturday, citing China State Railway Group.Some of the railway projects that are continuing are the Xi'an-Shiyan high-speed railway and the Shandong section of the Xiong'an-Shangqiu high-speed railway, the report said.About 2,000 kilometers of new national railway lines are planned to start operations this year, the report said.
The Philippines said any move to revive oil and gas cooperation talks with China will strictly be in line with its constitution and legal framework, the Department of Foreign Affairs said in a statement on Sunday.The statement came amid renewed attention on proposals to reopen discussions with China on joint energy development in the South China Sea, where both countries have overlapping territorial claims.The Department said decisions on any potential deal would remain fully under its jurisdiction and guided by existing laws and jurisprudence.The development follows recent exploratory engagements between the two sides, partly driven by concerns over energy security and supply stability.
The Asian Development Bank increased its economic forecast for China for the year, as Beijing is expected to focus its support for high technology sectors.China's gross domestic product was set at 4.6% for 2026, higher than the previous forecast of 4.3%, but lower than the year-ago GDP of 5%, according to a report published during the weekend.The first-quarter GDP was at 5.4% amid subdued investment growth and weakened household consumption.The government's support for high-tech innovation is expected to boost investment in the country, while still managing weak investment within the infrastructure and property sector. The ADB also predicted that exports will continue supporting the country's growth, although it would be weaker than the previous year, with China slowly shifting focus to non-U.S. trade partners.The ADB predicted China's GDP in 2027 to further weaken to 4.5%.
Chinese shares opened lower on Monday as U.S. President Donald Trump vowed to blockade the Strait of Hormuz after talks with Iran failed to reach a deal to end the war.The Shanghai Composite Index, the main gauge of Chinese stocks, opened at 3,971.20 on Monday, 0.4% lower than the previous close of 3,986.22. The Shenzhen Component Index opened at 14,233.11, down 0.5% from 14,309.47.Market sentiment reeled after Trump declared the immediate naval blockade of the Strait of Hormuz and threatened a military end for Iran.In a post on Truth Social, Trump said that while diplomatic talks had been progressing, the core issue of "NUCLEAR" remained unresolved.Trump further ordered the U.S. Navy to "seek and interdict every vessel in International Waters that has paid a toll to Iran," declaring such payments illegal extortion. He also warned Iran that the U.S. is "fully 'LOCKED AND LOADED,' and our Military will finish up the little that is left of Iran!"
U.S. President Donald Trump warned on social media that the U.S. Navy would immediately begin blockading all ships attempting to enter or leave the Strait of Hormuz after a failed talk with Tehran.Trump said in a Truth Social post on Sunday that while the goal is eventually to reach an "all being allowed to go in, all being allowed to go out" arrangement, Iran has prevented this by citing vague concerns about undisclosed mines."Iran has not allowed that to happen by merely saying, 'There may be a mine out there somewhere,' that nobody knows about but them," Trump wrote.Trump further directed the Navy to intercept any vessel in international waters that has paid a toll to Iran while also ordering the destruction of mines allegedly laid by Iran in the strait and warning that any Iranian attack on U.S. or peaceful vessels would result in them being "BLOWN TO HELL."Meanwhile, Reuters News, citing the U.S. Central Command, reported that the blockade of all maritime traffic to and from Iranian ports is set to begin at 10 a.m. ET on Monday.The command clarified that freedom of navigation would remain unaffected for ships transiting the strait to non-Iranian ports, with formal notices to be issued to commercial mariners beforehand, the newswire said.
Chinese producer prices ended 41 consecutive months of declines in March, returning to inflation for the first time since 2022.Factory-gate prices rose 0.5% last month, reversing the 0.9% decline in February, according to data from the National Bureau of Statistics released Friday.Median estimates by analysts polled by Bloomberg and Reuters saw inflation of 0.4%.Analysts at ING believe that the return to inflation in producer prices could translate to reflationary momentum across the Chinese economy.Producer price inflation was most evident in a 5.2% year-over-year increase in the oil and gas extraction industry prices, up from a 14.8% fall in the first two months, ING analysts said.However, Macquarie analysts say the PPI rebound is a one-off cost shock rather than reflation, also due to oil prices.Non-ferrous metals, computer and telecom, and coal and steel producer prices also drove upward PPI, Macquarie said.Meanwhile, the consumer price index, a measure of inflation, rose 1% year over year in March, slower than the 1.3% increase in February.Chinese consumer price increases were slower than the 1.2% rise expected by economists polled by Reuters.Core CPI, which excludes food and energy prices, went up 1.1%.The deceleration was due to normal price declines following the Chinese New Year festivities, ING said.Pork prices slid 11.5% year over year, the National Bureau of Statistics said.On a monthly basis, CPI ticked down 0.7%, the statistics bureau said.
Chinese officials are looking to boost the country's freight transport hubs by increasing capacity for critical strategic materials and key industrial goods, Xinhua News Agency reported Thursday.Officials from the finance and transport ministries will support 30 cities and city clusters to boost their transport capacity over a three-year period beginning in 2026, the report said.China also seeks to improve its logistics network to ensure better domestic and international connections, according to the state-owned news agency.
Chinese authorities asked companies to resist unreasonable pricing and unfair competition to ensure a healthy market environment for the power and battery energy storage sector, Xinhua News Agency reported Thursday.The Ministry of Industry and Information Technology, the National Development and Reform Commission, the State Administration for Market Regulation, and the National Energy Administration issued the guidelines.The agencies also sought improved product quality supervision, efforts against intellectual property violations, and measures to address the spillover of competition into overseas markets, the report said.
U.S. curbs on foreign technology could keep Chinese car manufacturers out of the country for the next 12 to 18 months, Bloomberg reported Thursday, citing U.S. Trade Representative Jamieson Greer.American prohibitions on foreign-made connected vehicle technology and software created by so-called foreign entities of concern are Chinese companies' biggest stumbling block, according to the report, citing Greer."It would probably be difficult for certain countries to establish new production here, given those sets of rules," Bloomberg quoted Greer as saying to reporters during a tour of an automobile production facility.Domestic car manufacturers are closely watching the possible entry of Chinese carmakers to the U.S., after President Donald Trump said he was open to China-based manufacturers from setting up shop in America, provided they hire American workers, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Chinese exports of new energy vehicles surged 140% year over year to 349,000 units, the China Passenger Car Association said Thursday.BYD (HKG:1211, SHE:002594) led the pack with 116,882 units, while Geely (HKG:0175) exported 52,186 units and Chery Automobile (HKG:9973) exported 40,837 units to complete the top three exporters for the month.The surge could be attributable to energy shocks due to the war in Iran, Bloomberg reported separately.
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