The reading for China will be particularly keenly watched, after official PMI data showed a surprising contraction in manufacturing, weakness in construction, fanning concerns about a dimming growth outlook. Recent data has been mixed, with the flash May PMI showing the fastest private-sector activity growth in nine months, industrial production data disappointing in April, but retail sales rebounding. The week will also see Indonesia, Philippines, Taiwan and Thailand CPI data for May. They pencil in a cut for the October-December quarter, but also think the central bank may shift its stance to signal rate cuts further down the road, economist Lee Sue Ann said. SOUTH KOREAOn Tuesday, data is expected to show that inflation in South Korea remains firmly above the central bank's target.

Source: Wall Street Journal June 02, 2024 22:26 UTC