July 24, 2014

• 한국 2/4분기 GDP 발표
• ▲0.6% QoQ, (consensus was 0.7% QoQ)
• ▲Exports, ▼Domestic Demand
• 세월호, 이동통신사 영업정지, 대규모 감원 등의 여파
• ▲Capital investment, ▲construction investment, ▲exports
• 소비심리가 안 좋음, 지식재산생산물투자(지출부문) ▼4.2% YoY
• 재정부장관: 기금운용을 통해 11조 7천억원 규모의 재정지출 확대, 각종 금융지원 29조원으로 확대
• 주택지원(6조원), 중소기업.상인지원(2.4조원), 관광산업(1천억), 농수산물(1천억)
• 산은.기은.수은 등의 정책금융 확대(10조원), 외평기금의 외화대출 지원 확대(5조원), 안전투자 펀드 조성(5조원)

• July PMI in EU announced: 54. , ▲1.2p MoM; matching three-year high record in April
• The pickup came after negative deposit rate
• Targeted loans to bolster lending, growth and inflation rate running
• Manufacturing index rose to 51.9 from 51.8 in July, while the gauge for services jumped to 54.4 from 52.8.
• GDP in China 2^nd Q: 7.5%; matching the government’s target.
• PMI was 52.0p; 50.7 in June.
• Japan trade deficit expands after exports unexpectedly drop from a year earlier
• Exports ▼2% while imports ▲8.4% YoY
• Declined 5.1% in electrical machinery exports
• Exports to U.S. ▼ by 2.2%; automobile shipments ▼ by 6.8%, 3.8% to Asia while ▲ by 1.5% to China and 6.4% to EU
• Imports of mineral fuels were 8.3%; about 31.4% of inbound shipment
• Took the largest portion of the imports
• Exports of auto vehicle ▲by 0.9%, but transport equipment ▼ by 0.9%

• Singapore Central Bank says it’s too early to ease property curbs
• Singapore is the Asia’s second-most expensive housing market
• The central bank signaled its determination to extend a campaign that begun in 2009 and include tighter mortgage rules and extra taxes.
• Residential values in the island-state dropped for a third quarter in the three months through June, the longest losing streak in five years.
• Home prices will probably extend decline as the government sticks with curbs.