In today’s briefing:
- BUY/SELL/HOLD: Hong Kong Market Update (April 29)
- EA: GDP Stimulated Faster Than Supply
- Actinver Research
- CX Daily: Chinese EV-Makers Lured by Thai Perks Face Reality Check
- Colombia: 25bp Rate Cut To 9.25% (Consensus 9.5%) in Apr-25
- Thailand: 25bp Rate Cut To 1.75% (Consensus 1.75%) in Apr-25
BUY/SELL/HOLD: Hong Kong Market Update (April 29)
- The HSI has pulled back below its long term averages however market breadth remains high with strong RSI and MACD technical indicators.
- Mainland buying through the Southbound Connect platform reached a historical high after the tariff announcement on April 2nd.
- Healthcare and Telecom sector have been able to maintain strength as the market pulled back.
EA: GDP Stimulated Faster Than Supply
- Activity growth in Q1 shouldn’t be dismissed as it helps signal the economy’s momentum and effective monetary conditions that trade shocks will fall on top of in the euro area.
- GDP growth exceeded expectations again by increasing to 0.35% q-o-q. Productivity’s poor post-pandemic performance helps GDP drive the ongoing fall in unemployment.
- Supply’s trend seems to have softened despite demand’s improving, raising excesses and the risk that ECB monetary policy was already stimulative before the trade shock.
Actinver Research
- Bimbo reported sales growth of 10.8% YoY, in line with our estimates.
- Sales were supported by FX tailwinds –as sales in local currency contracted 0.3% YoY–, positive volumes and recent acquisitions.
- Excluding FX tailwinds, sales in North America underperformed with an almost 5% YoY contraction, offsetting positive figures of other regions but slightly positive vs our more cautious estimates.
CX Daily: Chinese EV-Makers Lured by Thai Perks Face Reality Check
- TOP STORY EVs / In Depth: Chinese EV-makers lured by Thai perks face reality check
- IMF /China renews calls for IMF quota reform to boost the voice of emerging markets
- Social security /Beijing should bolster social security to boost consumption, researchers say
Colombia: 25bp Rate Cut To 9.25% (Consensus 9.5%) in Apr-25
- Banco de la República unanimously cut its benchmark rate by 25bps to 9.25%, surprising consensus expectations for no change and breaking a recent streak of unexpected holds.
- Inflation resumed its downward path, with core and headline figures easing and market-based expectations declining, supporting a measured policy loosening stance.
- While domestic demand remains resilient and growth forecasts have been upgraded, external financing conditions and fiscal uncertainty continue to pose constraints on the pace of further easing.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.
Thailand: 25bp Rate Cut To 1.75% (Consensus 1.75%) in Apr-25
- The Bank of Thailand cut the policy rate by 25bps to 1.75%, in line with market expectations, in response to increasing downside risks from global trade tensions and weaker domestic growth prospects.
- The central bank projects that Thai GDP growth could slow to between 1.3% and 2.0% in 2025, depending on tariff scenarios, while headline inflation falls below the target range, reflecting persistent disinflationary pressures.
- Future rate decisions will depend on global trade developments, domestic credit conditions, and the inflation trajectory, with monetary policy likely to remain accommodative amid heightened external uncertainty.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.
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