East Asia Econ

East Asia Today

Weekly flow data show a moderation of overseas bond acquisitions by Japanese buyers – but that don't show whether they are now selling overseas and buying JGBs. FX reserve accumulation in Taiwan remains modest. Inflation fell in January, but that is related to Chinese New Year.

Paul Cavey

Feb 5, 2026 • 2 min read

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East Asia Today

China's S&P services PMI was solid again in January, and Japan's was strong. High-frequency data for China suggest PPI was unchanged MoM in January for the seventh consecutive month. That stability reflects global factors, but also domestic policy, with the PBC last month again increasing liquidity.

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Region – China and Korea chart packs

A chart pack summarising developments in China and Korea.

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East Asia Today

Japan's monetary base continues to shrink, though it is still at 90% of GDP. CPI inflation in Korea remains around the 2% target, and given the outlook for exports, is now unlikely to fall further.