June Economic Data Released As Typhoon Talim Closes Hong Kong

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Asian equities were mixed overnight, with Hong Kong unexpectedly closed due to Typhoon Talim.

June economic data was unsurprisingly lackluster as year-over-year (YoY) comparisons to Shanghai’s lockdown period rolled off. Industrial production beat expectations posting +4.4% YoY versus the estimate of 2.5% and May’s 3.5%, though retail sales were +3.1% versus expectations of 3.3% and May’s 12.7%, fixed asset investment was +3.8% versus expectations of 3.4% and May’s 4%, and property investment YTD was -7.9% versus expectations of -7.5% and May’s -7.2%.