The latest data published by China’s National Bureau of Statistics (NBS) showed on Friday that profits earnt by China’s industrial firms in November rebounded 5.4% YoY vs. a 9.9% plunge seen in October.
October’s was the biggest fall in profits since 2011.
Further Details (via Reuters):
YTD (January to November) industrial profits are down 2.1% YoY.
Rising industrial output and sales boosted profits.
Still see uncertainties and volatility in industrial profits.
The China proxy, the Aussie dollar remains better bid on an upturn in the Chinese Industrial Profits, as AUD/USD flirts with five-month tops just ahead of the 0.6950 level. The Antipodeans continue to find support from increased prospects of a trade deal signing, in light of US President Trump’s upbeat comments.
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