China September trade data exceeded market expectations with solid export growth of 9.9% year-on-year and import growth of 2.4% year-on-year. Fears of a hard landing are ebbing.
Taiwan’s central bank has agreed with its counterpart in China to create renminbi clearing in Taiwan. Trade settlements could shoot up to $12 billion by the end of the year as a result.
Indicator of confidence in trade finance is modestly up in Asia, according to a recent study commissioned by HSBC, but it’s debatable how useful the index is.