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Friday preview: China GDP, Ashmore in the spotlight

Fri 16 April 2021 08:12 | A A A

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(Sharecast News) - The market spotlight will swing back to Asia at the end of the week where a raft of tier one activity indicators will be published.

The National Bureau of Statistics is expected to say that the year-on-year rate of growth in China's gross domestic product accelerated from 6.5% in the final three months of 2020 to 18.3%.

Separate reports on fixed asset investment, retail sales and industrial production however are expected to reveal a modest slowdown in their annual rates of growth during March.

Stateside meanwhile, investors' focus will be on the American consumer.

A preliminary reading on the University of Michigan's consumer confidence index for April is expected to reveal a rise from 84.9 to 88.8.

Across the Channel, euro area finance ministers are scheduled to meet via videolink.

The ongoing work to complete the bloc's Banking Union expected to be one of the main subjects under discussion.

European Union Finance ministers will also meet, to discuss the EU's economic recovery plan, including as regards the economic situation and outlook.

No major economic releases are scheduled in the UK.

UBS's Michael Werner forecasts that Ashmore will announce assets under management of $90.2bn for the third quarter ending in June.

That would represent a 3% dip quarter-on-quarter, but 18% growth year-on-year.

Inflows for the quarter were pegged at $0.2bn, with institutional clients seen putting more money to work offset by retail outflows.

Negative market performance was also expected to be a drag, to the tune of $3.0bn or 3.2% of AuM.

"We think investors should focus on the CEO's outlook with regards to the expectation for flows in the final quarter of its fiscal year."

Friday 16 April


Brooks Macdonald Group, JPMorgan Emerging Markets Inv Trust, Livermore Investments Group Ltd., National Westminster 9%pf


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