The report highlights that despite weaker PMI and CPI readings, China's retail sales and industrial production are expected to increase in October. Fixed asset investment is also expected to maintain its growth. The PBOC is expected to cut MLF policy rate by another 15bps and RRR by 50bps to accommodate the recent fiscal expansion. Hong Kong's unemployment rate is expected to stay unchanged. India's October CPI is expected to be 4.83% yoy, with food prices having firmed up on an average in October, led by onions. The government has announced measures to control onion prices, but the trend is likely to continue till the end of this month. The report forecasts food and core CPI prices to be up +0.7% mom and +0.6% mom, respectively, resulting in a headline CPI print of 4.83% yoy. On the external account, India's export and import are expected to improve materially to 4% yoy and -8.2% yoy, respectively, with a trade balance of USD -20.3bn. Indonesia is expected to report a slower contraction of 15.1% in October, continuing to enjoy a trade surplus of USD3b.
