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Angst Continues
Disappointing Chinese April data spurred speculation that more stimulus will be forthcoming and bolsters hopes that a trade deal with the US by the end of next month helped Asian Pacific equities advance for the first time this week. Indonesia, which reported a record trade deficit on the back of collapsing exports (-13.1% year-over-year in April, nearly twice the decline expected after a 10% fall in March) kept the pressure on its equity market. At the same time, though, an unexpected rise in South Korean unemployment (4.1% vs. 3.8%) heightened speculation of a near-term rate cut, while the equity market rose for ... (full story)