East Asia Econ

East Asia Today

China full-month exports for September (still strong), and Korean exports for the first 10 days of October (including only 3.5 working days, so too few to reach strong conclusions). Also, the new monthly summary of PBC liquidity operations, showing steady balance sheet expansion.

Paul Cavey

Oct 13, 2025 • 2 min read

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China – export trend still intact

Shipments to the US remain as low as in May. But with exports to other regions continuing to rise, the uptrend in overall shipments that began in mid-2023 remains intact. At the same time, imports in the last few months have risen a bit, so the trade surplus, finally, has eased back.

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Last week, next week

The short-term theme is uncertainty, with the ruptures in both the US-China trade truce and the LDP-Komeito ruling coalition in Japan. Both are negative for risk appetite. In terms of the data flow, the highlights in the next few days are China inflation, and TSMC's quarterly earnings.

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East Asia Today

Two releases from the BOJ today, one showing PPI inflation remaining firm, and the other, its consumer confidence survey, indicating that the firmness of inflation continues to erode household sentiment. Also today, an update on China's inflation in advance of next week's releases for September.