S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
DBS Group Research economists highlight that China’s Q1 2026 GDP growth accelerated to 5.0% year-on-year, driven by strong external demand and resilient industrial production, while domestic demand in consumption, investment and credit stayed weak. Improving PPI and CPI readings reduce urgency for aggressive monetary easing, leading DBS to scale back its 2026 1Y LPR cut forecast to 10 basis points.
External resilience, softer domestic momentum
“China’s economic growth accelerated from 4.5%yoy in Q4 2025 to 5.0% in Q1 2026, started of with a solid footing. Industrial activity remained well supported by strong external demand, while domestic momentum stayed uneven, with consumption, investment, and credit growth subdued amid persistent property sector stress and ongoing capacity reduction efforts.”
“External trade momentum remained robust. Exports grew 14.7% yoy in Q1, despite a moderation in March amid Middle East-related disruptions.”
“Industrial activity stayed resilient, supported by strong export momentum. Industrial production grew 6.1% yoy in Q1, despite ongoing “anti-involution” measures aimed at curbing excess capacity.”
“Price dynamics improved further. PPI returned to positive territory at 0.5% yoy in March, after 41 months of contraction, driven by higher raw material prices amid supply disruptions linked to the Strait of Hormuz and ongoing capacity adjustment.”
“Accordingly, we revise our 2026 easing expectations to a 10bp cut in the 1Y LPR, from 20bp previously, reflecting a more measured policy stance.”
