Two trend stories from Asia today, prompted by data released today.
First, Japan's July trade data rounds off the set for NE Asia, and the results from the region show an unexpectedly sharp rebound in export volumes, even though the yoy comparisons still tend to be negative. So it's easy to miss the rebound that is underway - but which of course also finds echo in recovering G3 import appetite.
Second, although Hong Kong's unemployment rate unexpectedly dipped 0.1pp to 6.1%, the larger story, and the larger concern, is the continuing and post-97 unprecedented fall in the territory's labour force.
