Developers’ Jun 2022 sales likely jumped by 47% mom, much stronger than their c.10% guidance at our conference in mid-Jun. SOE developers’ sales were particularly strong (60-135% growth), while private quality developers (e.g. Longfor) also outperf....

The ‘growth at any cost’ approach that some fintechs have taken is now likely a thing of the past, as access to funding becomes tougher. Our survey also points to the importance of scale; larger fintechs tend to be more profitable than their smaller ...

Oil prices have gapped sharply lower this morning as commodities in general have taken a battering from growing recession concerns. Egypt’s GDP growth rate slowed to 0.8% q/q in Q1 from 4.6% q/q in Q4, reflecting the impact of the war in Ukraine, whi...

On 27 Jun, the SFC and the CSRC announced the inclusion of eligible ETFs in Stock Connect, with effect from 4 Jul. A detailed initial list of ETFs eligible for Stock Connect trading was published on 28 Jun. We analyzed 83 ETFs eligible for Northboun....

The Jun 22 manufacturing PMI rose over 50, from 49.6 in May and 47.4 in Apr, indicating a recovery. This is in line with our previous discussion. The non-manufacturing PMI also rose above 50 in Jun 22, which indicates a more broad-based recovery af....

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