Asia markets will have to contend with Chinese economic data for April alongside a slew of central bank policy decisions across the region in the week ahead.
On Monday, HSBC is due to release its final reading of manufacturing activity in the world’s second biggest economy. It’s preliminary reading stood at 48.3, marking a fourth straight month of contraction, and markets will be watching if the final figure matches China’official reading of 50.4.
However, all eyes will be on Thursday’s trade figures following March’s shocking 6.6 percent tumble in exports. “China’s foreign trade has been downbeat. Exports fell in year-on-year terms in February and March, and imports were similarly weak. Some of the export weakness reflects corrections from fake over-invoicing a year ago, but there are clearly some real demand issues at play. April data will show if the recent yuan depreciation has had any impact on export competitiveness,” said analysts at Moody’s Analytics in a note.