APAC Commercial Property Chart Pack APAC Commercial Property Chart Pack (Q4 2025) Asia-Pacific all-property capital value declines slowed further with Q3 down just 1.1% y/y. Yet we expect the recovery to be modest, constrained by high risk-free rates and limited rental growth... 18th November 2025 · 1 min read
Emerging Markets Economics Update Early current account warning signs in a few EMs Emerging economies’ external positions generally look strong. But current account deficits are starting to widen in a handful of countries in Latin America as well as in the Philippines and Poland... 17th November 2025 · 3 mins read
Commodities Update Unpacking the key unknowns that will drive peak oil A growing divergence in views on the trajectory of oil demand over the next 25 years – and whether demand will even reach a peak during this period – partly reflects the reduction in political support... 17th November 2025 · 4 mins read
Asia Rapid Response Thailand GDP (Q3 2025) Thailand’s economy contracted during the third quarter and we think it will struggle over the coming months, prompting the central bank to step in and loosen monetary policy by more than most expect. 17th November 2025 · 2 mins read
Japan Rapid Response Japan GDP (Q3 2025 Preliminary) The fall in GDP last quarter further reduces the chances of a BoJ rate hike in December but we still think that the Bank will resume its tightening cycle at its January meeting. 17th November 2025 · 2 mins read
FX Markets Update Why is the yen still so weak? The Japanese yen continues to suffer from the wide monetary policy gap between Japan and other major economies. We think that gap will gradually narrow and the yen recover some ground over the next... 14th November 2025 · 5 mins read
China Economics Weekly Concerns about bank margins don’t preclude easing As the tailwind from fiscal loosening diminishes, the case for more monetary support will increase. And while the PBOC’s latest policy report flags narrowing bank margins as a concern, this may... 14th November 2025 · 5 mins read
Asia Economics Weekly BoK minutes, Malaysia Q3 GDP, Korean defence boost The Bank of Korea’s latest minutes show the central bank has become more upbeat on the near-term growth outlook and more concerned about rising property prices in Seoul. This reinforces our view that... 14th November 2025 · 7 mins read
India Economics Weekly New inflation forecasts, Bihar election implications Headline inflation in India fell to a near 26-year low in October. Although this probably marks the bottom, we now think it will average just 3.0% in 2026, from 3.4% previously. That will allow the... 14th November 2025 · 3 mins read
Asia Economics Update Thailand: growth to struggle as consumers pull back Thailand’s recovery from the pandemic has been one of the weakest in Asia and, with the boost from consumer spending fading as households deleverage, the economy is running short of growth drivers. We... 14th November 2025 · 3 mins read
Capital Daily Chinese equities’ relative resilience to the AI nerves China’s stock market has fared better than many as investor confidence in the AI boom has faltered, despite having benefited from that boom this year. We suspect it would continue to outperform the US... 14th November 2025 · 4 mins read
China Rapid Response China Activity & Spending (Oct. 2025) The collapse in investment spending continued last month, though we still think it is likely to partially reverse before long. More worrying is that output-side measures of activity, which had held up... 14th November 2025 · 2 mins read
Japan Economics Weekly The risks from escalating tensions with China There is a risk that the recent tensions with China escalate into a full-blown trade spat akin to the conflict around the Senkaku islands in the early 2010s. There are several avenues through which... 14th November 2025 · 6 mins read
China Rapid Response China Bank Lending & Broad Credit (Oct.) Bank loan growth continued to weaken in October, with the consumer loan subsidy scheme failing to put a floor under household loan growth. Alongside the continued slowdown in government bond issuance... 13th November 2025 · 2 mins read
Asia Economics Update Philippines: wider current account leaves peso vulnerable The Philippines’ current account deficit has widened to more than 4% of GDP and it is being increasingly financed by more volatile forms of foreign capital. This helps to explain why the peso has... 13th November 2025 · 4 mins read
Commodities Update Delays to US LNG won’t prevent gas prices from falling A combination of delays to LNG export capacity in the US and greater demand for natural gas from AI data centres will, all else equal, constrain the supply of LNG over the coming years. However... 12th November 2025 · 3 mins read
