Thungen Financial 21st October 2014 - Chinese Economic Update

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Thungen Financial 21st October 2014 - Chinese Economic Update

Key data was released today which left a mixed opinion on the local markets. Most importantly, GDP Growth was pegged at 7.3% for July to September and was seen as its weakest in 6 years. The fact that 7.3% growth can be seen as disappointing is starting to concern the Central Bank as they look to change their economy from an export driven one to a domestic demand driven economy. It will be almost impossible for China to continue at that pace given their intentions. What really needs to be acknowledged by the rest of the world is that China's expansion cannot be the benchmark for global expansion, especially as they have very specific objectives.

Adding weight to concerns over the quality of their reporting, Factory Output jumped up from last month's poorer than expected 6.9%, a 6yr low in itself, to an increase of 8%, far exceeding the forecast 7.5%.

Weaker Retail figures and lower fixed asset investments still mean that there could be a case for further stimulus by the Central Bank however as 2014 progresses many believe that Chinese expansion may have seen its best days and that other developing countries need to take the banner on from China and help push the global economy forward.

Major Asian Markets as of 21st October 2014

Hang Seng 23,017.61 (-0.23%)

SSE Comp 2,348.48 (+0.35%)

Nikkei 225 14,804.28 (-2.03%)

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DISCLAIMER  The views, opinions, findings, and conclusions or recommendations expressed on this service are those of the author(s) and do not necessarily reflect the views of the Thungen Financial Advisors. All market data within this release is for your general information and enjoys indicative status only. Thungen Financial Advisors does not accept any responsibility for its accuracy or for any use to which it may be put. All share prices and market indexes delayed at least 15 minutes. 52 week high and low values are calculated from close price data.