MAYASIA BUSINESS OUTLOOK9Investors cheered signs of easing inflationary pressure in the United States on Thursday, as data showed consumer prices rose at a slower-than-expected rate in April.The Consumer Price Index (CPI) rose 4.9 percent from a year ago in April, compared to expectations of a 5 percent increase, raising hopes that the Federal Reserve's interest rate hike cycle is nearing an end. CPI increased 0.4 percent month on month in April after increasing 0.1 percent in in March."If the data remain strong in May, the FOMC will almost certainly have to revise up its GDP and inflation projections while lowering its unemployment forecast of 4.5 percent for the fourth quarter of this year". This could have significant implications for the dot plot, according to ANZ analysts in a note.Markets are also keeping an eye on China's consumer and producer price growth data, as well as Japan's full-year earnings season, which continues with Honda, Nissan, and SoftBank Group reporting.China's consumer prices rose at a slower pace and fell short of expectations in April, while factory gate deflation deepened, according to data released on Thursday, implying that more stimulus may be required to boost the country's patchy post-COVID economic recovery. NEWSROOMASIAN STOCKS RISE AS US INFLATION FALLSAs reported by the General Administration of Customs (GAC), China's total value of imports and exports increased by 5.8 percent year on year (YoY) in the first four months of 2023 to reach 13.32 trillion yuan (approximately $1.92 trillion), a 1 percent increase over the first quarter's (Q1) growth rate.During the same period, exports increased by a strong 10.6 percent, while imports increased by a marginal 0.02 percent. The data also showed significant trade growth with specific regions; trade with the Association of Southeast Asian Nations (ASEAN) and the European Union (EU) increased by 13.9 percent and 4.2 percent, respectively.China's trade with participating countries increased by 16 percent to 4.61 trillion yuan in the context of the Belt and Road Initiative. Trade with the Central Asian nations of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan increased by 37.4 percent, offsetting weaker demand from traditional markets.Private enterprises have also been at the forefront of this trade expansion, with their imports and exports increasing by 15.8 percent to 7.05 trillion yuan, accounting for more than half of total trade in the country.The GAC's monthly survey revealed an increasing number of enterprises reporting growing export orders for the fourth consecutive month, indicating that this trade growth is sustainable. Foreign trade increased by 8.9 percent YoY Increase. CHINA'S TRADE INCREASED BY 5.8 PERCENT YOY IN Q1 2023
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