Citi’s economic surprises index for Japan turned negative last week and is now the lowest since June. On the Japanese corporate front this week, meanwhile, big firms reporting earnings include financials Mizuho, Mitsubishi UFJ and Sumitomo.
The Chinese news flow this week is potentially huge.
On the political front, U.S. President Joe Biden and Chinese President Xi Jinping meet face to face this week at the Nov. 15-17 Asia-Pacific Economic Cooperation (APEC) gathering of leaders in San Francisco.
The economic data pipeline is full of top-tier releases too. They include money supply, lending and ‘total social financing’ – basically a broad measure of credit and liquidity in the economy – while on Wednesday markets will digest October’s retail sales, industrial production and unemployment figures.
Some of China’s biggest companies are scheduled to report their latest earnings this week. They include JD.com, Tencent Holdings, Alibaba Group and Lenovo.
Where do Chinese equities stand ahead of all that?
The blue chip CSI 300 index last week rose 0.066% – barely in positive territory, but enough to make it three weeks in a row of gains, its best run since March. That said, the index still failed in these three weeks to claw back the 4.1% losses from the week ending Oct. 20.
